China’s Alibaba says it will not join Ant Group share buyback By Reuters

© Reuters. FILE PHOTO: The brand of Alibaba Group is lit up at its workplace constructing in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photograph

BEIJING (Reuters) – China’s Alibaba (NYSE:) Group mentioned on Sunday it had determined to not take part in a proposed repurchase of shares by affiliate Ant Group, however would keep its shareholding within the firm.

Ant Group introduced a shock share buyback of as much as 7.6% of its fairness curiosity earlier this month.