Chinese state firms to take big stake in Ant's credit-scoring JV

The plan would represent one of the most prominent outcomes of a govt push for state-backed firms to exert more control and influence

State-backed firms are set to take their first sizeable stake in a key Ant Group asset as part of the Chinese fintech giant's regulatory-driven revamp that was ordered after its botched November stock market debut, three people told Reuters.

The partners plan to establish a personal credit-scoring firm to handle Ant's treasure trove of data on over 1 billion consumers, said the people, adding that its ownership structure could help revive Ant's blockbuster initial public offering (IPO) which regulators put a stop to with just two days to go.

The IPO drew regulators' attention to billionaire Jack Ma's Ant and e-commerce affiliate