Hong Kong | Beijing: Ant Group<\/a> is exploring options for founder Jack Ma<\/a> to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw a line under Beijing's scrutiny of its business, according to a source familiar with regulators' thinking and two people with close ties to the company.
Reuters is for the first time reporting details of the latest round of meetings and the discussions about the future of Ma's control of Ant, exercised through a complicated structure of investment vehicles. The Wall Street Journal previously reported that Ma had in a November meeting with regulators offered to hand over parts of Ant to the Chinese government.
Officials from the central bank, People's Bank of China<\/a> (PBOC<\/a>), and financial regulator China Banking and Insurance Regulatory Commission (CBIRC) held talks between January and March with Jack Ma and Ant Group separately, where the possibility of the tycoon's exit from the company was discussed, according to accounts provided by the source familiar with the regulators' thinking and one of the sources with close ties to the company.
Ant denied that a divestment of Ma's stake was ever under consideration. \"Divestment of Mr. Ma's stake in Ant Group has never been the subject of discussions with anyone,\" an Ant spokesman said in a statement.
Reuters could not determine whether Ant and Ma would proceed with a divestment option, and if so, which one. The company hoped Ma's stake, which is worth billions of dollars, could be sold to existing investors in Ant or its e-commerce affiliate Alibaba Group Holding Ltd<\/a> without involving any external entity, one of the sources with company ties said.
But the second source also with company connections said that during discussions with regulators, Ma was told that he would not be allowed to sell his stake to any entity or individual close to him, and would instead have to exit completely. Another option would be to transfer his stake to a Chinese investor affiliated with the state, the source said.
Any move would need Beijing's approval, both sources with knowledge of the company's thinking said.
The accounts provided by all the three sources are consistent in terms of the timeline for how discussions have evolved over the past few months. On the company side, one source said Ma met regulators more than once before the Chinese New Year, which was in early February. And the second source said Ant started working on options for Ma's possible exit about a couple of months ago. The source familiar with the regulators' thinking said Ant had told officials during a meeting sometime before mid-March that it was working on options.
The source familiar with the regulators' thinking has direct knowledge of conversations between Ant and officials, while one of the sources with company ties has been briefed on Ma's interactions with regulators and Ant's plans. The other one has direct knowledge of Ant's discussions about options. They requested anonymity because of the sensitivity of the situation.
The Ant spokesman did not provide any comments from Ma. Alibaba<\/a> referred questions to Ant. Jack Ma's office did not respond to Reuters' request for comment made via Ant. The State Council Information Office, PBOC, and CBIRC, also did not respond to requests for comment.
The high-stakes discussions come amid a revamp of Ant and a broader regulatory clampdown on China's technology sector that was set in motion after Ma's public criticism of regulators in a speech in October last year.
Ma's exit could help clear the way for Ant to revive plans to go public, which stalled after the tycoon's speech, both sources proximate to the company said. Ant, which was about to raise an estimated $37 billion in what would have been the world's largest initial public offering, aborted plans the day after Ma's Nov. 2 meeting with regulators.
'Too big for their britches'<\/strong>
Since then Beijing has unleashed a series of investigations and new regulations that have not only reined in Ma's empire but also swept across the country's technology sector, including other high-profile, billionaire entrepreneurs.
For Ma, 56, who also founded Alibaba and once commanded cult-like reverence in China, the consequences have been particularly severe. The tycoon completely withdrew from the public eye for about three months and has continued to keep a low profile after a brief January appearance.
China's antitrust regulator fined Alibaba a record $2.75 billion on April 10 following an antimonopoly probe that found it had abused its dominant market position for several years. A couple of days later Ant was asked by the central bank to become a financial holding company, bringing it under the ambit of banking rules that it had managed to avoid so far and allowed it to grow rapidly.
\"China still likes to promote its technology firms as global leaders just as long as they don't get too big for their britches,\" said Andrew Collier, managing director of Orient Capital Research.
Controlling stake<\/strong>
Although Ma had previously stepped down from corporate positions, he retains effective control over Ant and significant influence over Alibaba.
While he only owns a 10% stake in Ant, Ma exercises control over the company through related entities, according to Ant's IPO prospectus.
Hangzhou Yunbo, an investment vehicle for Ma, has control over two other entities that own a combined 50.5% stake of Ant, the prospectus shows. Yunbo can decide all matters related to Ant and exercise the combined voting power of the three entities, the prospectus shows.
Ma holds a 34% equity interest in Yunbo, the prospectus shows.
One of the sources with company ties said there's \"a big chance\" Ma would sell his equity interest in Yunbo to exit from Ant, ultimately paving the way for the fintech major to move closer to completing its revamp and reviving its listing.
Reuters could not reach Yunbo for comment. Ant did not provide a comment on behalf of Yunbo.
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蚁群探索方式为马云退出中国成堆的压力
官员从中国人民银行(PBOC),和国家的金融监管机构与马云1月和3月间举行会谈,蚁群分别在大亨的退出公司的可能性进行了讨论。
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程朱朱莉&愣了
香港|北京:蚁群探索创始人的选项吗马云剥离金融科技巨头和他的股份放弃控制,公司会见中国监管机构表示,此举可以帮助北京的审查下画一条线的业务,据一位知情人士透露,监管机构的思考和两个人与公司关系密切。
路透首次报告的细节最新一轮会议和讨论未来的马英九控制蚂蚁,运动通过一个复杂的投资工具的结构。《华尔街日报》此前报道,马已在11月会议上与监管机构提供部分蚂蚁交给中国政府。
中央银行的官员,人民银行中国(中国人民银行),金融监管机构中国银行和保险监督管理委员会(CBIRC)在1月和3月之间举行会谈,马云和蚁群分别的可能性大亨退出公司了,据知情人士提供的账户监管机构的思考和一个与该公司关系密切的来源。
蚂蚁否认曾经考虑撤资的马英九的股份。”马云的蚂蚁股份集团撤资从未与任何人讨论的主题,“一只蚂蚁发言人在一份声明中说。
路透社无法确定蚂蚁和马是否会继续撤资选项,如果是这样,哪一个。公司希望马英九的股份,价值数十亿美元的,可以卖给现有投资者在Ant或其电子商务联盟阿里巴巴集团(Alibaba Group Holding Ltd .)不涉及任何外部实体,一个来源与公司关系说。
但是第二来源还表示,在与监管机构的讨论与公司连接,马被告知,他不允许出售股份接近他,任何单位和个人,而不是已经完全退出。另一个选择是他的股份转让给中国投资者隶属于国家,消息人士称。
需要中国政府的批准,任何举措都了解公司的想法说的来源。
提供的账户所有的三个来源是一致的的时间表如何讨论已经在过去的几个月里。在公司方面,一位消息人士称马不止一次遇到了监管机构在中国新年之前,也就是二月初。第二个来源说蚂蚁开始着手选择马英九可能对几个月前退出。的知情人士透露,监管机构想法的人士表示,蚂蚁告诉官员在一次会议在3月中旬之前,它正在选项。
知情人士透露,监管机构的想法直接了解蚂蚁和官员之间的对话,虽然来源与公司的关系一直在向马英九的交互与监管机构和蚂蚁的计划。另一个直接的蚂蚁的知识讨论选项。他们要求匿名,因为的敏感性。
蚂蚁从马发言人没有提供任何评论。阿里巴巴把问题推给蚂蚁。马云的办公室没有回应路透社的记者的置评请求通过Ant。国务院新闻办公室、中国人民银行和CBIRC,也没有回复记者的置评请求。
高风险讨论之际,修改Ant和更广泛的监管打击中国的科技行业,这是启动后马英九公开批评监管机构在去年10月的一次演讲中。
马英九的出口可以帮助明确为Ant重振计划上市,既停滞大亨的演讲后,直接来源。蚂蚁,这是关于提高约370亿美元将是世界上最大的首次公开发行(ipo)计划失败后的第二天马英九的11月2日的会议上与监管机构。
“他们的裤子太大”
此后北京释放一系列的调查和新的规定,不仅控制在马英九的帝国也席卷该国的科技行业,包括其他高调,亿万富翁企业家。
对马云来说,56岁的他也创立了阿里巴巴和在中国曾经吩咐痴迷的崇敬,后果尤为严重。大亨完全退出了公众视线大约三个月,继续保持低调短暂1月后外观。
中国反垄断监管机构罚款阿里巴巴创纪录的27.5亿美元,4月10日在反垄断调查发现有滥用市场支配地位好几年了。几天后蚂蚁问中央银行成为金融控股公司,使其在银行规定的范围,已设法避免了到目前为止,允许快速增长。
“中国仍然喜欢来促进其科技公司作为全球领导人只要他们不要太大的裤子,”安德鲁·科利尔说东方资本研究的董事总经理。
控股权
虽然马之前从公司辞职的立场,他保留了有效控制蚂蚁对阿里巴巴和重大影响。
虽然他只拥有10%的股份蚂蚁,马练习控制公司通过相关的实体,根据蚂蚁的IPO招股说明书。
杭州云波,马的投资工具,控制两个其他实体拥有50.5%的股份总额蚂蚁,招股说明书所示。云波可以决定所有的蚂蚁和运动有关的事务联合投票权的三个实体,招股说明书所示。
马在云波持有34%的股权,招股说明书所示。
来源与公司关系说的“一个大机会”马将出售他在云波股权退出蚂蚁,最终铺平了道路fintech主要靠近完成修补和恢复上市。
路透社无法达到云波置评。蚂蚁没有提供评论代表云波。
香港|北京:蚁群探索创始人的选项吗马云剥离金融科技巨头和他的股份放弃控制,公司会见中国监管机构表示,此举可以帮助北京的审查下画一条线的业务,据一位知情人士透露,监管机构的思考和两个人与公司关系密切。
路透首次报告的细节最新一轮会议和讨论未来的马英九控制蚂蚁,运动通过一个复杂的投资工具的结构。《华尔街日报》此前报道,马已在11月会议上与监管机构提供部分蚂蚁交给中国政府。
中央银行的官员,人民银行中国(中国人民银行),金融监管机构中国银行和保险监督管理委员会(CBIRC)在1月和3月之间举行会谈,马云和蚁群分别的可能性大亨退出公司了,据知情人士提供的账户监管机构的思考和一个与该公司关系密切的来源。
蚂蚁否认曾经考虑撤资的马英九的股份。”马云的蚂蚁股份集团撤资从未与任何人讨论的主题,“一只蚂蚁发言人在一份声明中说。
路透社无法确定蚂蚁和马是否会继续撤资选项,如果是这样,哪一个。公司希望马英九的股份,价值数十亿美元的,可以卖给现有投资者在Ant或其电子商务联盟阿里巴巴集团(Alibaba Group Holding Ltd .)不涉及任何外部实体,一个来源与公司关系说。
但是第二来源还表示,在与监管机构的讨论与公司连接,马被告知,他不允许出售股份接近他,任何单位和个人,而不是已经完全退出。另一个选择是他的股份转让给中国投资者隶属于国家,消息人士称。
需要中国政府的批准,任何举措都了解公司的想法说的来源。
提供的账户所有的三个来源是一致的的时间表如何讨论已经在过去的几个月里。在公司方面,一位消息人士称马不止一次遇到了监管机构在中国新年之前,也就是二月初。第二个来源说蚂蚁开始着手选择马英九可能对几个月前退出。的知情人士透露,监管机构想法的人士表示,蚂蚁告诉官员在一次会议在3月中旬之前,它正在选项。
知情人士透露,监管机构的想法直接了解蚂蚁和官员之间的对话,虽然来源与公司的关系一直在向马英九的交互与监管机构和蚂蚁的计划。另一个直接的蚂蚁的知识讨论选项。他们要求匿名,因为的敏感性。
蚂蚁从马发言人没有提供任何评论。阿里巴巴把问题推给蚂蚁。马云的办公室没有回应路透社的记者的置评请求通过Ant。国务院新闻办公室、中国人民银行和CBIRC,也没有回复记者的置评请求。
高风险讨论之际,修改Ant和更广泛的监管打击中国的科技行业,这是启动后马英九公开批评监管机构在去年10月的一次演讲中。
马英九的出口可以帮助明确为Ant重振计划上市,既停滞大亨的演讲后,直接来源。蚂蚁,这是关于提高约370亿美元将是世界上最大的首次公开发行(ipo)计划失败后的第二天马英九的11月2日的会议上与监管机构。
“他们的裤子太大”
此后北京释放一系列的调查和新的规定,不仅控制在马英九的帝国也席卷该国的科技行业,包括其他高调,亿万富翁企业家。
对马云来说,56岁的他也创立了阿里巴巴和在中国曾经吩咐痴迷的崇敬,后果尤为严重。大亨完全退出了公众视线大约三个月,继续保持低调短暂1月后外观。
中国反垄断监管机构罚款阿里巴巴创纪录的27.5亿美元,4月10日在反垄断调查发现有滥用市场支配地位好几年了。几天后蚂蚁问中央银行成为金融控股公司,使其在银行规定的范围,已设法避免了到目前为止,允许快速增长。
“中国仍然喜欢来促进其科技公司作为全球领导人只要他们不要太大的裤子,”安德鲁·科利尔说东方资本研究的董事总经理。
控股权
虽然马之前从公司辞职的立场,他保留了有效控制蚂蚁对阿里巴巴和重大影响。
虽然他只拥有10%的股份蚂蚁,马练习控制公司通过相关的实体,根据蚂蚁的IPO招股说明书。
杭州云波,马的投资工具,控制两个其他实体拥有50.5%的股份总额蚂蚁,招股说明书所示。云波可以决定所有的蚂蚁和运动有关的事务联合投票权的三个实体,招股说明书所示。
马在云波持有34%的股权,招股说明书所示。
来源与公司关系说的“一个大机会”马将出售他在云波股权退出蚂蚁,最终铺平了道路fintech主要靠近完成修补和恢复上市。
路透社无法达到云波置评。蚂蚁没有提供评论代表云波。
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