Chinese regulators are lining up equity investments in dozens of companies by Chinese e-commerce giant Alibaba’s Ant Group, Reuters said on Thursday, citing three unnamed people familiar with the matter, in a sign that authorities are scrutinizing Jack Ma‘s fintech empire ever more closely.
Regulators are considering whether Ant Group should be ordered to withdraw some of its investments, particularly in technology and fintech startups, if it is involved in violations of rules on unfair competition, one of the people familiar with the matter said. Two people familiar with the matter also said the authorities are reviewing the group’s investments over the past few years, as well as the rationale behind the deals and their synergies.
Chinese regulators last week announced the launch of an antitrust investigation into Alibaba and asked Ant Group to restructure its lending and other consumer finance businesses.
Recent Comments