Published 2 years ago

Report: Jack Ma to Relinquish Control of Ant Group

Summary by Ground News

Ma currently controls 50.52% of shares of Ant, the company he carved out of Alibaba more than a decade ago. The new configuration, designed to reduce reliance on Ma, would see him move some, but not all, of his voting power to CEO Eric Jing. The decision comes two years after intense pressure from Chinese regulators that included pulling Ant's planned IPO at the last minute.

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Times of India

Jack Ma to give up control of Ant Group: report

Ma might transfer his voting power to other Ant officials, including CEO Eric Jing, after which they would collectively control the company.

2 years ago·India

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The Telegraph

Chinese billionaire Jack Ma to give up control of Ant Group after pressure from Beijing

Entrepreneur is among highest-profile figures in crackdown on the country’s technology sector

2 years ago·London, United Kingdom

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Infobae

Billionaire Jack Ma plans to give up control of Chinese technofinance company Ant Group

This is the company whose historic IPO was stopped in 2020 by the Beijing authorities and which is in the process of restructuring, according to The Wall Street Journal

2 years ago·C A B A, Argentina

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Asia One

Billionaire Jack Ma plans to cede control of China's Ant Group: WSJ

HONG KONG/BEIJING - Chinese billionaire Jack Ma plans to cede control of Ant Group, the Wall Street Journal reported on Thursday (July 28), after a regulatory crackdown that scuppered its $37 billion IPO in 2020 and led to a forced restructuring of the financial technology behemoth. While Ma only owns a 10 per cent stake in Ant, an affiliate of...

2 years ago·Singapore

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The Quint

Jack Ma To Cede Control of Ant Group To Escape China’s Regulatory Clampdown

Ma is currently touring Europe after going largely unnoticed from public view for the last two years.

2 years ago·India

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Observer

Report: Jack Ma to Relinquish Control of Ant Group

Billionaire Jack Ma plans to “relinquish control” of Ant Group Co.. The decision comes two years after intense pressure from Chinese regulators that included derailing Ant’s plann…

2 years ago·New York, United States

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