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Jack Ma's Ant Group faces US headwinds in race to IPO before Trump vote

America is exploring restrictions on Chinese payment services

The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China
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The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China

Julia Fioretti, Lulu Yilun Chen, and Abhishek Vishnoi | Bloomberg
Jack Ma’s Ant Group has a narrow window to make its much-anticipated market debut ahead of US election turbulence. Now its bankers must grapple with any potential delays stemming from a debate in Washington over restrictions on the payments behemoth.

Discussions over how and whether to restrict Ant — as well as Tencent Holdings Ltd’s payments systems — have accelerated among senior US officials in recent weeks though a decision isn’t imminent, Bloomberg reported.

They come as Ant is expected to raise about $35 billion from simultaneous initial public offerings in Shanghai and Hong Kong as early as this month. China’s biggest

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