Ant Group’s founder Jack Ma will no longer control the Chinese fintech giant after the firm’s shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights, the group said on Saturday.
Read more: China Tells Alipay Operator Ant Group To Separate app Lending Business
The move marks another big development after a regulatory crackdown that scuppered Ant’s $37 billion IPO in late 2020 and led to a forced restructuring of the financial technology behemoth.
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