Business

Ant may form holding company with regulation similar to bank: Bloomberg News

Ant Group Co is considering to fold its financial operations into a holding company that could be regulated more like a bank, Bloomberg News reported on Tuesday, citing people familiar with the situation.

FILE PHOTO: Alipay logo is pictured on a building of the Shanghai office of Alipay, owned by Ant Gr
FILE PHOTO: Logo of Alipay is pictured on a building of the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba,in Shanghai, China November 9, 2020. REUTERS/Aly Song/File Photo

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REUTERS: Ant Group Co is considering to fold its financial operations into a holding company that could be regulated more like a bank, Bloomberg News reported on Tuesday, citing people familiar with the situation.

(This story corrects day to Tuesday from Monday, changes "plans" to "may form" in headline)

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Tom Hogue)

Source: Reuters