Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps

Alibaba Stock Leaps As Jack Ma Cedes Ant Control, Beijing Eases Crackdown

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Alibaba shares hit 6-month high after Jack Ma cedes control of Ant Group, amid a broad rally in Asian shares

Alibaba share rose 9% after news emerged that Ma was ceding control of Ant Group, following China's crackdown on tech companies.

Shares of Ant-linked firms rise after news of Jack Ma ceding control; Alibaba jumps

While some analysts have said a relinquishing of control could clear the way for the company to revive its initial public offering (IPO), the controller changes announced on Saturday, however, are likely to result in a further delay due to listing regulations.

Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps By Reuters

Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps

Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps

Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.

Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps

(Reuters) -Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.