Exclusive-Chinese state firms to take big stake in Antu0027s credit-scoring JV -sources

HONG KONG : State-backed firms are set to take a sizeable stake in a key Ant Group asset for the first time, three people told Reuters, in a move that will loosen the Chinese fintech giant’s grip on a data treasure trove of over 1 billion users but help revive its IPO. The partners plan to establish a personal credit-scoring firm, said the people, adding that such a firm and ownership structure was one aspect of restructuring ordered by regulators who put a stop to Ant’s initial public offering (IPO) in November with just two days before its stock market…