Jack Ma pauses during a fireside interview at the Viva Technology conference in Paris, France, on … [+]
Marlene Awaad/Bloomberg
Ant Group has agreed on a restructuring plan with China’s regulators that will turn the fintech giant into a financial holding company subject to capital requirements similar to those for banks, Bloomberg News reported.
Quoting anonymous sources familiar with the matter, the report said the plan requires Ant to place all of its businesses into the holding company, including its technology offerings in areas like blockchain and food-delivery. An official announcement may come before the start of China’s Lunar New Year holiday on February 11.
In a call with analysts just a day earlier, Alibaba’s
BABA
CEO Daniel Zhang had warned of “substantial uncertainties” over Ant Group’s business prospects and initial public offering plans.
“Due to recent significant changes in the…