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With billions on the line, China halts Ant Group's IPO; Jack Ma summoned

The move upends what had been one of China's biggest business success stories

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Jack Ma | Alibaba | China

Lulu Yilun Chen Richard Frost | Bloomberg 



Jack Ma
Alibaba, which owns about a third of Ant and is listed in the U.S., tumbled 6.8% at 12:44 p.m. in New York.

It was heralded as China’s answer to JPMorgan -- a homegrown financial giant on the cusp of the biggest stock-market debut the world has ever seen.

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First Published: Wed, November 04 2020. 06:51 IST

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