The pressure on Chinese tech billionaire Jack Ma is ratcheting up as a state-run group scraps a deal to invest in Ant Group’s consumer finance arm, and as state media implicates the group in a corruption scandal.
The investment would have increased Cinda's interest in Chongqing Ant Consumer Finance Co Ltd to 24%, making the asset manager its second-biggest investor.
Cinda pulls out $944m investment from capital-thirsty Ant unit cgtn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cgtn.com Daily Mail and Mail on Sunday newspapers.