China's Alibaba Says Will Not Join Ant Group Share Buyback

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China's Alibaba Says Will Not Join Ant Group Share Buyback

Reuters2023-07-24

BEIJING, July 23 (Reuters) - China's Alibaba Group said on Sunday it had decided not to participate in affiliate Ant Group's proposed repurchase of shares, but would maintain its shareholding in the company.

Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations.

Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33% stake.

The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing.

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AcidIce
·2023-07-24
Then like that Hong Kong one is game over already! Will drop!
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JoeLeong
·2023-07-24
Lol@Zacyai
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Will drop!","listText":"Then like that Hong Kong one is game over already! Will drop!","text":"Then like that Hong Kong one is game over already! Will drop!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/201296052854856","repostId":2353455098,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":201217769173008,"gmtCreate":1690156196697,"gmtModify":1690156199994,"author":{"id":"3582643296059275","authorId":"3582643296059275","name":"JoeLeong","avatar":"https://static.tigerbbs.com/b6b27c46f3780eb973e5ec1292ab73ec","vip":1,"hat":"https://static.tigerbbs.com/622fc56f7e67b5729addb4e78a195511","crmLevel":3,"crmLevelSwitch":0,"idStr":"3582643296059275","authorIdStr":"3582643296059275"},"htmlText":"Lol<a href=\"https://ttm.financial/U/3586342075674877\">@Zacyai&nbsp;</a>","listText":"Lol<a href=\"https://ttm.financial/U/3586342075674877\">@Zacyai&nbsp;</a>","text":"Lol@Zacyai","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/201217769173008","repostId":2353455098,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":30,"commentSize":2,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}