Business Standard

Ant Group reaches deal with China regulators on overhaul: Report

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.

Ant Group

Reuters

(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)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Ant Group

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 03 2021 | 2:38 PM IST

Explore News