Alibaba evaluates response to shelved Ant IPO as quarterly revenue rises 30 per cent

//Alibaba evaluates response to shelved Ant IPO as quarterly revenue rises 30 per cent

Alibaba evaluates response to shelved Ant IPO as quarterly revenue rises 30 per cent

E-commerce giant Alibaba Group Holding is reviewing its next moves after China’s regulators halted the public listing of affiliate Ant Group this week, a setback that cast a shadow on the company’s strong financial results in the quarter ended September 30.“As Ant Group’s major shareholder, Alibaba is actively evaluating the impact on our business and our response to the recent proposed change in the fintech regulatory environment,” said Daniel Zhang Yong, chairman and chief executive of…

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By | 2020-11-05T12:23:57+00:00 November 5th, 2020|Technology|Comments Off on Alibaba evaluates response to shelved Ant IPO as quarterly revenue rises 30 per cent