Ant Group Expected To Convert To Holding Company, Faces Bank-like Regulation

Fintech giant Ant Group, an affiliate to the Alibaba Group with business interests ranging from international digital payments platforms and consumer lending to food delivery, has seen its prospects for an initial public offering—recently touted as one of the largest in history—stymied in recent months due to efforts by the Chinese government to increase its scrutiny and regulation of large financial and technology companies...