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China’s President Xi Jinping Personally Scuttled Jack Ma’s Ant IPO

china’s-president-xi-jinping-personally-scuttled-jack-ma’s-ant-ipo

Chinese President Xi Jinping personally made the decision to halt the initial public offering of Ant Group, which would have been the world’s biggest, after controlling shareholder Jack Ma infuriated government leaders, according to Chinese officials with knowledge of the matter.

The rebuke was the culmination of years of tense relations between China’s most celebrated entrepreneur and a government uneasy about his influence and the rapid growth of the digital-payments behemoth he controlled.

Mr….

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