Chinese regulators probe Ant Group's equity investments, says report

China has been cracking down on anticompetitive behaviour in the country's booming internet sector

Chinese regulators are reviewing equity investments held by Ant Group Co in dozens of companies, three people with knowledge of the matter said, intensifying a crackdown on billio­naire Jack Ma’s financial technology empire.

Regulators are considering whether to instruct Ant to divest some of its investments, mainly in technology and fintech start-ups, if they violate any rules such as creating unfair competition in the market, one of the three sources said.

Any enforced divestments would deprive the group of potentially lucrative investments, compounding existing regulatory pressure to revamp its business structure and put up more capital for its key consumer lending business.

Divestments