Reuters reveals Ant, Alibaba plan for less intertwined future after China crackdown – Reuters News Agency

Business & Finance

Reuters exclusively revealed that Ant Group and Alibaba are untangling their operations from each other and independently seeking new business as the Jack Ma-founded companies navigate China’s devastating regulatory crackdown. E-commerce giant Alibaba Group Holding created what would become payments and financial services provider Ant and spun it off in 2011, although it still retains a 33% stake and the two companies have some overlap in leadership.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Equities

Regions: Asia

Countries: China

Win Types: Impact (Long Term)

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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