Ant Reaches Agreement With China Regulators on Overhaul
- Ma’s fintech giant will become a financial holding company
- Ant is still exploring a potential IPO, but timeline unclear
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Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.
The plan calls for putting all of Ant’s businesses into the holding company, including its technology offerings in areas such as blockchain and food delivery, people familiar with the matter said. One of Ant’s early proposals to regulators had envisioned putting only financial operations into the new structure.