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Ant explores ways for Jack Ma to exit Reuters | Updated on × Ma s stake, worth billions of dollars, could be sold to existing investors in Ant or Alibaba Group Hong Kong, April 19 Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing s scrutiny of its business, accordingto a source familiar with regulators thinking and two people with close ties to the company. Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma s control of Ant, exercised through a complicated structure of investment vehicles. ....
Alibaba relieved as regulatory storm ends with record fine Alibaba CEO Jack Ma waved a red flag in the face of Chinese President Xi Jinping when he compared the nations financial markets to pawn shops, in a presentation ahead of the planned Initial Public Offering of Ant. In November regulators blocked the listing which would have been worth over $34bn according to The Wall Street Journal. The clash was part of a long-running battle between Ma and local regulators. It triggered intense scrutiny of online tech companies and e-commerce platforms, which previously enjoyed relative freedom in their operations. Regulators have seemingly made an example of Alibaba, issuing a record 18.2 billion yuan ($2.8 billion) fine for anti-competitive practices. – Melani Nathan ....
The rush of capital into Hong Kong explains why the city’s stock market is riding a 20-month high, even as the local economy remains mired in its worst recession amid worsening unemployment and a resurgence in Covid-19 cases. ....
The chairman of private equity firm Primavera Group, which counts China's Ant Group among its portfolio companies, believes the financial technology giant's founder Jack Ma is "safe and sound", and said that he remains optimistic about the company. ....
Updated Jan 06, 2021 | 08:30 IST Speculation about Alibaba founder Jack Ma s whereabouts intensified when he failed to appear as a judge in the final episode of his own show, Africa s Business Heroes. Chinese e-commerce billionaire and Alibaba founder Jack Ma. (File photo) | Photo Credit: BCCL New Delhi: Chinese e-commerce billionaire and Alibaba founder Jack Ma is not missing but is “laying low”. CNBC’s David Faber reported that Ma is not missing, adding “what I can tell you is that he’s very likely in Hangzhou, where Alibaba is headquartered, and is being less-visible, purposefully.but that doesn’t mean that he’s missing.” ....