Jack Ma may give up control of Ant Group to move it away from Alibaba: report

Jack Ma. Photographer: Tomohiro Ohsumi/Bloomberg

Chinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group Holding Ltd, the Wall Street Journal reported on Thursday.

Alibaba did not immediately respond to a Reuters request for comment. The company’s US-listed were trading lower before the bell.

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