Jack Ma to Handover Ant Group’s Control as Part of Company’s Restructure

Chinese billionaire Jack Ma will cede control of fintech giant Ant Group as part of a restructure, the company announced Saturday. Regulators this week announced that Ant had won approval to raise CNY 10.5 billion (roughly Rs. 12,300 crore) for its consumer finance arm in a further sign that authorities may be loosening their grip on the firm.

Jack Ma to Handover Ant Group’s Control as Part of Company’s Restructure
Chinese billionaire Jack Ma will cede control of fintech giant Ant Group as part of a restructure, the company announced Saturday. Regulators this week announced that Ant had won approval to raise CNY 10.5 billion (roughly Rs. 12,300 crore) for its consumer finance arm in a further sign that authorities may be loosening their grip on the firm.