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Alibaba co-founder to relinquish control of Ant Group

Jack Ma, co-founder of Chinese e-commerce giant Alibaba, is to give up control of of Ant Group, after a government crackdown on powerful companies and individuals. For the past two years there has been much talk of Mr Ma divesting his stake, with the Ant Group valued last year between 75 and 150 billion dollars before its IPO was halted. Ant...

9 Jan 2023