Ant Group Co Ltd is considering selling its stake in its virtual banking unit in Hong Kong, Bloomberg News reported on Friday, citing people familiar with the matter.
Ant Bank (Hong Kong) Ltd is in talks with potential investors to bolster operations and the plan is preliminary in its preliminary stages, according to the report.
Ant Group’s founder Jack Ma gave up control of the Chinese fintech giant early this year, with the company nearing the completion of its two-year regulatory-driven restructuring.
An Ant Group spokesperson declined to comment on the report, saying “We don’t comment on market rumours.”
Reuters