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 which regulators put a stop to with just two days to go.
The only non-state investor will be Transfar Group, parent of logistics and financial services firm Transfar Zhilian Co Ltd, said the people with knowledge of the matter, who declined to be identified as the information was private.Reuters phone calls to Zhejiang Tourism seeking comment went unanswered. Ant and other shareholders did not respond to emailed requests for comment.
The proposed credit-scoring firm would bring Ant's main business-data operations under one unit, also making regulatory oversight easier. Big platforms such as Ant, which began as Alibaba's payments arm, have for years been reluctant to share that data with credit-scoring firms run or backed by regulators.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »