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China’s Alibaba says it will not join Ant Group share buyback
© Reuters. FILE PHOTO: The logo of Alibaba Group is lit up at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photo
BEIJING (Reuters) – China’s Alibaba (NYSE:) 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.
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