Exclusive: China’s Ant explores ways for Jack Ma to exit as Beijing piles pressure – sources
By Julie Zhu
HONG KONG (Reuters) – Ant Group is exploring selections for founder Jack Ma to divest his stake throughout the financial know-how massive and give up administration, as conferences with Chinese regulators signaled to the company that the switch may help draw a line beneath Beijing’s scrutiny of its enterprise, in accordance to a provide accustomed to regulators’ pondering and two people with shut ties to the company.
Reuters is for the first time reporting particulars of the latest spherical of conferences and the discussions about the way in which ahead for Ma’s administration of Ant, exercised by means of a complicated development of funding autos. The Wall Street Journal beforehand reported that Ma had offered in a November meeting with regulators to hand over elements of Ant to the Chinese authorities. https://on.wsj.com/2QvkHbc
Officials from the central monetary establishment, People’s Bank of China (PBOC), and financial regulator …