HONG KONG: Chinese e-commerce giant Alibaba says it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group because it wants to retain its stake in an "important strategic partner." Alibaba Group Holdings said in a filing on Sunday that it will not participate in Ant's share buyback program. NOT FOR SALE Visitors tour the Ant Group booth during the China International Fair for Trade in Services at the Shougang venue in Beijing on Sept. 1, 2022. "Given that Ant Group continues to be an important strategic partner to Alibaba Group's various businesses, Alibaba Group has decided that it will not sell any shares to Ant Group under the proposed share repurchase, so as to maintain its shareholding in Ant Group," Alibaba said in the filing. Singapore state-owned investment firm Temasek Holdings also said it was considering selling some of its shares.
