Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
Source: Reuters
HONG KONG, Nov 22 (Reuters) - Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma's Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company's two-year long regulatory overhaul.The People's Bank of China (PBOC), which has been driving the revamp at Ant after the Chinese firm's $37 billion IPO was scuttled at the last minute in…
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