The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

Billionaire Jack Ma plans to cede control of Chinese fintech Ant Group

Source: voonze.com voonze.com
News Snapshot:

The billionaire founder of AlibabaJack Ma, plans to give up control of Ant Group, the Chinese fintech company whose historic IPO was stopped in 2020 by the Beijing authorities and which is in the process of being restructured, as reported on Thursday The Wall Street Journal (WSJ). The newspaper, citing anonymous sources, notes that Ma could lose control of the company by transferring some of his voting power to other executives of it, including CEO Eric Jing. According to him WSJAnt has communicated to the regulators the plans of the billionaire businessman while is preparing to modify its business structure…

Other China Tech Buzz: