Reuters exclusively revealed that Ant Group and Alibaba are untangling their operations from each other and independently seeking new business as the Jack Ma-founded companies navigate China’s devastating regulatory crackdown. E-commerce giant Alibaba Group Holding created what would become payments and financial services provider Ant and spun it off in 2011, although it still retains a 33% stake and the two companies have some overlap in leadership.
Business & Finance
Reuters reveals Ant, Alibaba plan for less intertwined future after China crackdown
21 June 2022, 6:15 am. 1 minute
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
Win Types: Impact (Long Term)
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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