Ant and Alibaba plan for less intertwined future after China crackdown

The headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China, in October 2020.  | REUTERS

BEIJING/SINGAPORE – Ant Group and Alibaba are untangling their operations from each other and independently seeking new business as the Jack Ma-founded companies navigate China’s devastating regulatory crackdown, four sources familiar with the matter said. E-commerce giant Alibaba Group Holding created what would become payments and financial services provider Ant and spun it off in

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