Fidelity cuts Ant valuation amid PRC crackdownBloombergFidelity Investments has slashed its estimate of Ant Group Co’s (螞蟻集團) valuation for at least the second time this year, underscoring the deteriorating outlook for Jack Ma’s (馬雲) fintech giant as the Chinese government ramps up regulation of the industry. Another filing showed that Fidelity might have reduced its valuation even further in July, to about US$67 billion. BlackRock Inc assigned Ant a valuation of US$174 billion, its filing showed on Aug. 26. T Rowe Price Group Inc set it at US$189 billion, its filing showed on Aug. 25. Fidelity’s valuation for Ant in June was 48 percent lower than when it invested in the company in 2018.

Source: Taipei Times September 09, 2021 15:56 UTC