Login to comment
No longer China’s most valuable company, Alibaba has erased almost all its stock gains this year, just days after Chinese regulators signaled a change in their posture toward the e-commerce behemoth and its finance affiliate, Ant Group.@keping @xieyuxyhttps://t.co/SZRzPZDbFL— Jonathan Cheng (@JChengWSJ) December 28, 2020
Honestly, I have zero sympathy for the investors. Zero.— Christmas Spirit Balding 大老板 (@BaldingsWorld) December 27, 2020
Don't get me wrong what Beijing is doing is punitive and probably personal/political.
Investors knew exactly the risks they were running sending their money to China. You dance with the devil.... https://t.co/3j6s6n6td1
Two months ago, investors were on the cusp of a massive windfall from what would have been the world's largest IPO.— BloombergQuint (@BloombergQuint) December 28, 2020
Now, the hundreds of millions of dollars invested with Ant Group are in jeopardy after China ordered the company to return to its roots.https://t.co/cOVnQhgeN6
Ant shows #China risks. FinTech turning from world’s largest IPO to nightmare on regulation from Communist Party. There is nothing that Beijing doesn’t control & anything that does appear to be gyrating out of its orbit is going to get pulled back quickly. https://t.co/un8amH3DLk pic.twitter.com/Fyd6n89OAm— Holger Zschaepitz (@Schuldensuehner) December 27, 2020
Chinese regulators to Ant Group: We're going to need you to rectify your behavior, comply with our rules, get out of the personal lending, insurance and wealth management businesses and stop playing regulators off one another.@xieyuxyhttps://t.co/1DtqXIkDkU— Jonathan Cheng (@JChengWSJ) December 28, 2020
There's no reason to be a fan of the party-state, so much of its ire towards Ma is that it sees new competition from a separate wing of capital. But can you imagine any American president having the guts to set these kinds of regulations on any Silicon Valley start up? https://t.co/3NGLBuufJY— giorgio (@giorgiomomurder) December 27, 2020
Reason why one should always pay attention to an autocratic person or institution. Because if they have power to flex, they will flex it. This episode shows once again that Chinese regime eventually owns every single business on Mainland. #ANT $BABA #AntGroup https://t.co/br3QubiNmG— Ashish Dave (@ashishdave) December 27, 2020
Which govt said this? "Authorities also blasted [Company] for sub-par corporate governance, disdain toward regulatory requirements, and [using] its dominance to exclude rivals, hurting the interests of its hundreds of millions of consumers." https://t.co/ucydaL3Mmp— Scott Kupor (@skupor) December 27, 2020
Thing is, Ant never would have become so overwhelmingly large in the first place without years of government support—and now that it’s starting to grow out of control, the government has to take apart its own creation. A real modern day Frankenstein story. https://t.co/aSCFeBGpuv— Taisu Zhang (@ZhangTaisu) December 28, 2020
Capital markets & #Regulation!— Dr Efi Pylarinou (@efipm) December 28, 2020
Are the investment banks involved in the #IPO, at all accountable for not highlighting this kind of risk?
A confirmation bias at scale?
China Orders #Ant Group to Revamp Its Business https://t.co/cVrhu5ewXs @Xbond49 @SpirosMargaris @psb_dc
#AntGroup gets humiliated but #PBOC raised no new issues. Could have been worse.@psb_dc @thepsironi @efipm @BrettKing @alvinfo @BetaMoroney @lexSokolin @spirosmargaris @ursbolt @jimmarous @leimer @sbmeunier#fintech #banking #innovation #technology— Richard Turrin (@richardturrin) December 27, 2020
I’m sorry but this entire episode is wild. https://t.co/3WG0QbNFlR— ST. (@seyitaylor) December 27, 2020
Login to comment
#Finance #Government China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant: What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s… https://t.co/Ai8mNbcsr2 | https://t.co/mfR4u1I3JG | https://t.co/mfR4u1I3JG pic.twitter.com/2DlTszJV17— eStream Studios (@eStream_Studios) December 28, 2020
China orders Alibaba founder Jack Ma to break up fintech empire https://t.co/CewiFSuyTB .... Told you so. The same will happen to the rest of the beloved #China tech & media names (“sensitive industries” is a #CCP catch-all). #Alibaba #AntFinancial #BABA #Tencent #Baidu #tech— Emma Muhleman CFA CPA (@Emma_cfa) December 29, 2020
Login to comment