{"id":170114,"date":"2021-02-03T23:02:58","date_gmt":"2021-02-03T20:02:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ant-group-reportedly-reaches-deal-with-regulators-on-restructuring\/"},"modified":"2021-02-03T23:02:58","modified_gmt":"2021-02-03T20:02:58","slug":"ant-group-reportedly-reaches-deal-with-regulators-on-restructuring","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ant-group-reportedly-reaches-deal-with-regulators-on-restructuring\/","title":{"rendered":"#Ant Group reportedly reaches deal with regulators on restructuring"},"content":{"rendered":"

“#Ant Group reportedly reaches deal with regulators on restructuring<\/strong>”
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Ant Group has agreed on a restructuring plan with Chinese regulators under which the fintech giant will become a financial holding company, a person with direct knowledge of the matter said, potentially easing founder Jack Ma\u2019s regulatory woes.<\/p>\n

The plan calls for putting all of Ant\u2019s businesses into the holding company, including its payment processing and technology<\/a> offerings in areas like blockchain and food delivery, the person said, declining to be named due to confidentiality constraints.<\/p>\n

Bloomberg News<\/a> first reported Ant had reached an agreement<\/a> with Chinese regulators about the proposed restructuring.<\/p>\n

An announcement about the restructuring, which will result in the company being subject to capital requirements similar to those for banks, could come before the start of China\u2019s Lunar New Year holiday on Feb. 11, the Bloomberg report said.<\/p>\n

An agreement on the restructuring of Ant, an affiliate of e-commerce giant Alibaba Group, would ease investor concerns about a regulatory crackdown on billionaire Ma\u2019s business empire.<\/p>\n

The catalyst for Ma\u2019s current woes was an Oct. 24 speech in which he blasted China\u2019s regulatory system, leading to the suspension of Ant\u2019s $37 billion initial public offering just days before its dual-listing in Hong Kong and Shanghai.<\/p>\n

Regulators have since launched an anti-trust probe into the tech sector with Alibaba taking much of the heat, besides pushing Ant to revamp its business structure to bring it under tighter regulatory supervision.<\/p>\n

Ma, who is not known for shying away from the limelight, subsequently disapp<\/a>eared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged last month with a 50-second video appearance.<\/p>\n

Despite the agreement with the regulator on revamping Ant, whose businesses include consumer lending and insurance products distribution, the anti-trust probe into Alibaba would continue to cloud the outlook for Ma\u2019s empire.<\/p>\n

Bloomberg\u2019s report said that Ant was still exploring opportunities to revive its stock market listing, citing one person familiar with the matter. It said it was unclear how long authorities would need to sign off on a listing.<\/p>\n

Ant\u2019s financial holding structure is expected to weigh on its valuation, as the fintech firm was valued as a technology firm in its previous fundraising rounds. Typically, valuations are much higher on technology firms than on financial companies.<\/p>\n

Ant, which earlier on Wednesday declined to comment on the Bloomberg report, also declined to comment when contacted by Reuters. China\u2019s central bank did not immedia<\/a>tely respond to a faxed request for comment.<\/p>\n

Alibaba\u2019s Hong Kong-listed shares closed 0.4 percent higher on Wednesday. They had tumbled early in the session after the company reported third-quarter results and warned it faced a near-term challenge from changing regulations.<\/p>\n

It also warned that Ant\u2019s business prospects and IPO plans \u201care subject to substantial uncertainties.\u201d<\/p>\n

\u201cCurrently, we are unable to make a complete and fair assessment of the impact that these changes and uncertainties will have on Alibaba Group,\u201d it said.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Ant Group reportedly reaches deal with regulators on restructuring” Ant Group has agreed on a restructuring plan with Chinese regulators under which the fintech giant will become a financial holding company, a person with direct knowledge of the matter said, potentially easing founder Jack Ma\u2019s regulatory woes. The plan calls for putting all of Ant\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":170115,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/ant-group-agrees-restructuring.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[91889,76474,4973,77891,5007,76475],"class_list":["post-170114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-3-21","tag-alibaba","tag-china","tag-e-commerce","tag-ipo","tag-jack-ma"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/170114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=170114"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/170114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/170115"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=170114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=170114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=170114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}