China’s billionaire tech boss Jack Ma plans to hand over control of Ant Group, a fintech powerhouse closely affiliated with Alibaba, he founded, to e-commerce giant The Wall Street Journal. informed of on Thursday.
If materialized, the move would mark another turning point in Ant’s ongoing restructuring and power reshuffle as China closed its $35 billion initial public offering nearly two years ago.
The Ant group could not be immediately contacted for comment.
more to come…