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China's Alibaba says it will not join Ant Group share buyback

2023-07-23 19:59
BEIJING China's Alibaba Group said on Sunday it had decided not to participate in a proposed repurchase of
China's Alibaba says it will not join Ant Group share buyback

BEIJING China's Alibaba Group said on Sunday it had decided not to participate in a proposed repurchase of shares by affiliate Ant Group, but would maintain its shareholding in the company.

Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month.

(Reporting by Amy Lv and Dominique Patton; Editing by Jan Harvey)