The announcement came more than a month after Chinese regulators abruptly suspended Ant's blockbuster US$37 billion initial public offering in Shanghai and Hong Kong, and only days after the country's antitrust authorities said they had launched a probe into Ma's (pic) e-commerce conglomerate Alibaba Group Holding Ltd.
BEIJING: China's central bank disclosed on Sunday it had asked the country's payments giant Ant Group Co Ltd to shake up its lending and other consumer finance operations, the latest blow to its billionaire founder and controlling shareholder Jack Ma.
The announcement came more than a month after Chinese regulators abruptly suspended Ant's blockbuster US$37 billion initial public offering in Shanghai and Hong Kong, and only days after the country's antitrust authorities said they had launched a probe into Ma's e-commerce conglomerate Alibaba Group Holding Ltd.
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