Ant denies report that it’s exploring ways for Ma to sell stake

A view of the signage of Ant Group is seen at the headquarters compound of the fintech giant in Hangzhou in eastern China's Zhejiang province. - AP

HONG KONG, Apr 18 (Bloomberg): Ant Group denied a report that the Chinese finance-technology company is exploring ways for founder Jack Ma to sell his stake and give up control as a means to ease pressure from the country’s regulators.

Reuters reported earlier that officials from the People’s Bank of China and the China Banking and Insurance Regulatory Commission held talks with Ma and Ant separately between January and March, where the possibility of Ma’s exit was discussed. The report cited people familiar with the matter.