Market Chatter: Alibaba Affiliate Ant Group Close to Completing Acquisition of Hong Kong Brokerage

MT Newswires Live03-16 19:00

Alibaba Group Holding (BABA) affiliate Ant Group is about to complete its acquisition of Hong Kong-listed brokerage Bright Smart Securities & Commodities Group, Bloomberg News reported Monday, citing people familiar with the matter.

Ant is close to receiving approvals from authorities in mainland China, the people reportedly said.

The deal was announced in April 2025 when Bright Smart Chairman, Yip Mow Lum, conditionally agreed to sell his 50.55% stake to Wealthiness and Prosperity Holding, which is ultimately controlled by Ant, for HK$2.81 billion ($360 million), according to the report.

Ant and Bright Smart did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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