Alibaba slides on report China plans to break up payment app


Source: bbc.co.uk bbc.co.uk

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Alibaba slides on report China plans to break up payment app Published 50 minutes ago Share close Share page Copy link About sharing image source, Getty Images Shares in Chinese technology giant Alibaba have fallen sharply after a report that its financial affiliate Ant Group is again under scrutiny. Regulators want to break up Alipay, which is China's biggest payments app with more than a billion users, according to the Financial Times. A separate platform for the app's profitable lending operation would be created under the plan. It would be the latest move by Beijing to tighten its grip on...