![]() ![]() Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. ![]() Your CNN account Log in to your CNN account In a statement, Ant said the move would make the company’s shareholder structure “more transparent and diversified,” but would not result in any change to the economic interests of any shareholders.Īnt said its 10 major shareholders, including Ma, had agreed to no longer act in concert when exercising their voting rights, and would only vote independently, and thus no shareholder would have “sole or joint control over Ant Group.” His voting rights have fallen to about 6% from more than 50% prior to the restructure. Ma relinquished control of the company in January as part of a shakeup of its shareholding structure. His team has also invested in Chinese electric vehicle makers NioĪnd while Beijing may have dialed back on its overt pressure, it has been quietly tightening its grip on household names, including Alibaba, by acquiring so-called “golden shares” that allow government officials to be directly involved in their businesses, including having a say in the content they provide to hundreds of millions of people. Rupak De Chowdhuri/ReutersĪlibaba sells remaining stake in top Indian online payment provider Paytmīao is a veteran deal maker in Chinese tech - he helped to broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. Ten days later, the investment bank and private equity firm said he was cooperating in an investigation by Chinese authorities.Ī QR code of Paytm is seen at a mobile repairing shop in Kolkata, India, November 9, 2021. Confidence took a knock last month when Bao Fan, the CEO and chairman of Beijing-based China Renaissance, disappeared without explanation. Investors have rushed back in.īut the outlook for the sector remains uncertain. New Premier Li Qiang has adopted a softer tone towards businesses since taking office, in what many see as an attempt to bolster China’s economic recovery. ![]() As the economy struggles to pick up speed after years of Covid lockdowns and a real estate crash, the ruling Communist Party needs the private sector to boost jobs and growth. In recent months, Beijing has signaled that its onslaught on the internet industry may be coming to an end. He paid a visit to Hangzhou Yungu School today and had a chat with teachers there on education,” a spokesperson said. Ma travels very often in China and overseas. In a statement to CNN about the trip, the Jack Ma Foundation said the Alibaba founder “travels very often in China and overseas.” In recent years, Ma has reportedly spent time in Japan, home to his friend and Alibaba investor, SoftBank CEO Masa Son, and in Hong Kong. That intervention by regulators followed a speech from Ma in which he criticized China’s banks and financial regulators. One of the most dramatic opening salvos of the offensive came in November 2020, when Ant Group - a financial affiliate of Alibaba also founded by Ma - was forced to pull its $37 billion IPO at the last minute. Ma, who has a fortune of nearly $33 billion, has kept a very low profile since the Chinese government began a fierce crackdown on the tech sector more than two years ago. Meme-stock investor Ryan Cohen has taken a stake in Alibaba and is pushing the e-commerce leader to buy back more of its shares, in a rare case of activism targeting a prominent Chinese firm. offices in Beijing, China, on Tuesday, Jan. Signage at the Alibaba Group Holding Ltd. ![]()
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