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China tech

What awaits Ant Group now that Jack Ma has relinquished control?

Analysts say founder's imprint on the company may linger despite new structure

Jack Ma has given up control of fintech giant Ant Group, potentially smoothing its path to an eventual listing. (Source photos by AP and Getty Images) 

HONG KONG -- China's Jack Ma has relinquished control over Ant Group, but what does this mean for the direction of the fintech giant he founded and its prospects for a long-delayed initial public offering?

Earlier this month, Ant announced that Ma's effective voting rights in the company would be reduced from 53.46% to 6.2%.

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