29 July 2022

Ant Group set to be distanced from Alibaba group

Written By FinTech Alliance

Ant Group set to be distanced from Alibaba group

Jack Ma is preparing to distance Ant Group from the Alibaba technology company, the Wall Street Journal has reported. 

In Brief: 

Jack Ma is planning to relinquish control of Ant Group. 

Ant Group is the FinTech spin-off of the wider Alibaba technology company. 

This report follows the halting on its IPO in 2020. 

What does this mean?

The report says that this is part of the FinTech business’ effort to move away from Alibaba Group Holding Ltd after pressure from Chinese regulators. 

Read more here. 

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