(Reuters) -U.S. asset manager Fidelity Investments has halved the valuation of its shares in Ant Group, the Chinese financial technology company at the centre of a major regulatory crackdown, the Wall Street Journal reported https://on.wsj.com/337DSLd on Monday.
The new valuation for the Jack Ma-founded company, which has been forced to restructure following scrutiny from Beijing, was $144 billion as at the end of February, based on regulatory filings cited by the WSJ.
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