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Explainer: What's next for Ant after its nearly $1 bln fine?

July 11, 2023
Source: reuters.com reuters.com
News Snapshot:
BEIJING, July 10 (Reuters) - The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant's woes and given hope to investors that a regulatory crackdown on China's broader technology sector is over. Ant's story so far has been one of a dramatic reversal in fortunes: while its shelved $37 billion IPO in 2020 had valued the company at $315 billion, a share buyback announced on Saturday valued it 75% less at $78.5 billion. Here are some of the key things to look out for with respect to Ant:...
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