Ant Group reaches deal with China regulators on overhaul: Report

(Reuters) - Ant Group Co has agreed on a restructuring plan with Chinese regulators under which the fintech giant will be turned into a financial holding company, according to Bloomberg News.

The plan calls for putting all of Ant's businesses into the holding company, including its technology offerings in areas like blockchain and food-delivery, according to screenshots of the story shared by Bloomberg subscribers on Wednesday.

 

(Reporting by Bhargav Acharya in Bengaluru; Editing by Edmund Blair)