Chinese state companies seen taking big stakes in Ant’s credit-scoring JV ...Qatar

State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three people told Reuters, in a move that will loosen the Chinese fintech giant’s grip on a data treasure trove of over 1bn users but help revive its IPO. The partners plan to establish a personal credit-scoring firm, said the people, adding that such a firm and ownership structure was one aspect of restructuring ordered by regulators who put a sudden stop to Ant’s blockbuster initial public offering (IPO) in November. The listing highlighted the outsized role of Ant and e-commerce affiliate Alibaba in China, triggering a regulatory clampdown on the business empire of billionaire founder Jack Ma

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Chinese state companies seen taking big stakes in Ant’s credit-scoring JV ...Qatar

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