China Definitively Reins In Jack Ma’s Ant Fintech Empire – Agreement Reached On “Restructuring” (ZeroHedge)

It appears Chinese authorities have finally induced Jack Ma to cave. After the co-founder of Alibaba and Ant was feared possibly missing as he disappeared from public few during the final months of last year which coincided with increased government scrutiny on his hugely successful and rapidly expanding Ant Financial fintech – since subject of an antitrust investigation initiated in December – only to briefly re-emerge for a live-streamed conference in January, China has apparently made it clear that the only way Ma could make amends for previously pointing out that Chinese banks are unsound is if Beijing gets regulatory control over Ant. READ MORE

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