Jack Ma’s withdrawal from his stake in Ant Group is one of the company’s ways to ease pressure from China’s financial regulators.

Representatives from the People’s Bank of China and the Banking and Insurance Regulatory Commission have already held talks with Ant Group and Ma. They also discussed the exit of an entrepreneur from business.

Chinese regulators have made it clear that Jack Ma will not be able to sell his stake to an individual or entity close to Ant Group. The businessman will have to completely withdraw from the capital of the company.

Recall that by the end of December, the Chinese authorities launched an antitrust investigation against Alibaba. The company was eventually fined $ 2,8 billion – a record fine in China’s history.