BEIJING (Reuters) – Ant Financial, the fintech affiliate of Alibaba Group Holding Ltd, will restructure as a financial holding company, China’s central bank said on Monday.
Ant has formed a “comprehensive and feasible restructuring plan,” at the urging of fincancial regulators, the People’s Bank of China said.
(Reporting by Tony Munroe, Cheng Leng and Stella Qiu; Editing by Catherine Evans)
