Jack Ma's Ant Group to Restructure After Crackdown by China

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Of the country's tech giant and group will be restructured to become a financial holding company. Follows last year's sudden cancelation of its plans flotation on the stock market, Celia Hatton reports Last year Beijing dramatically halted and stock market listing, which was set to break global records. The government cited regulatory concerns about the firm. Although insiders also believe China's leaders felt threatened by ants out spoken founder Jack Ma. And now and is being overhauled and currently operates like a massive online payment and lending platform. But the authorities air compelling it to hold reserves, making it more like a traditional bank. Shares and Mr

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