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

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2023-07-23T11:42:11Z

The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photo

China’s Alibaba Group (9988.HK) 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.

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