Ant Group "Rumors of Pressure to Sell Shares to Ma Yun Are Not True"

Foreign Media: "Ant Group Pressures Ma Yun to Relinquish Management Rights and Sell Shares"
Ant Group: "Ma Yun's Share Sale Has Never Been Discussed with Anyone"

Jack Ma, Founder of Ant Group [Photo by Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] In response to reports that China's Ant Group is pressuring its founder Jack Ma to sell his shares and relinquish management rights, Ant Group immediately denied the claims, calling them "groundless."

According to major foreign media on the 17th (local time), Chinese financial authorities reportedly contacted Jack Ma and Ant Group separately between January and March. Citing multiple sources, foreign media reported that "the possibility of Jack Ma's resignation was discussed during this process."

These sources also stated that Ant Group hopes the shares held by Jack Ma will be sold to other shareholders or the parent company Alibaba.

According to one source, Jack Ma was informed during talks with the authorities that selling shares to companies or individuals related to him is prohibited. The source also mentioned that an option was proposed for Jack Ma to transfer shares only to investors designated by the authorities.

Ant Group issued a statement immediately in response to these reports, denying that "Jack Ma's share sale has ever been discussed with anyone."

Ant Group is a subsidiary of the e-commerce giant Alibaba and the world's largest fintech company. Jack Ma, the founder of Ant Group, has held a 10% stake in the company, effectively controlling it.

Previously, Ant Group was expected to raise a record-breaking $37 billion (41.3 trillion won) through its initial public offering (IPO) last year. However, after Jack Ma criticized Chinese authorities at an event in Shanghai in October last year, the IPO was halted, and the company has since faced comprehensive regulatory scrutiny.

It is known that Ant Group began considering Jack Ma's resignation several months ago. If Jack Ma steps down, the likelihood of Ant Group's IPO being relaunched increases significantly.

This content was produced with the assistance of AI translation services.