{"id":40272,"date":"2023-07-25T12:20:39","date_gmt":"2023-07-25T16:20:39","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/chinas-alibaba-says-it-will-not-join-ant-group-share-buyback\/"},"modified":"2023-07-25T12:20:41","modified_gmt":"2023-07-25T16:20:41","slug":"chinas-alibaba-says-it-will-not-join-ant-group-share-buyback","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40272","title":{"rendered":"China’s Alibaba says it will not join Ant Group share buyback"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS\/Tingshu Wang\/File Photo<\/span>
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BEIJING (Reuters) – China’s Alibaba <\/span><\/span> (NYSE:) Group said on Sunday it had decided not to participate in affiliate Ant Group’s proposed repurchase of shares, but would maintain its shareholding in the company.<\/p>\n

Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations.<\/p>\n

Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33% stake. <\/p>\n

The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS\/Tingshu Wang\/File Photo BEIJING (Reuters) – China’s Alibaba (NYSE:) Group said on Sunday it had decided not to participate in affiliate Ant Group’s proposed repurchase of shares, but would maintain its shareholding in […]<\/p>\n","protected":false},"author":1,"featured_media":12418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-40272","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nChina's Alibaba says it will not join Ant Group share buyback | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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