Ant weighs holding company for financial businesses to placate regulators: sources (Update)


BEIJING (Reuters): Ant Group Co Ltd is considering folding most of its online financial businesses, including consumer lending, into a holding company that would be regulated like traditional financial firms, two people with direct knowledge of the matter said.

The regulators, mainly the central bank, want Ant to fold its wealth management and insurance distribution businesses as well as minority-owned MYbank online lender into a financial holding company, one of the sources told Reuters.

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