Today news
About the same in other media
China's Alibaba says it will not join Ant Group share buyback
Reading now: 425
BEIJING (Reuters) — China's Alibaba (NYSE:BABA) Group said on Sunday it had decided not to participate in affiliate Ant Group's proposed repurchase of shares, but would maintain its shareholding in the company.
Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations.
Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33% stake.
The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing.
Read more on investing.comAbout this in other media
IMF packages, foreign bailouts will not suffice to keep Pakistan economy afloat: Report economictimes.indiatimes.com /1 year ago
Listing of Ant Group is unlikely in the short term - state media investing.com /1 year ago
China export controls will hit companies' revenue: US commerce secretary Gina Raimondo economictimes.indiatimes.com /1 year ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
