A sign of Antchain, the blockchain technology branch under Ant Group, is seen at Ant Group's booth during the World Artificial Intelligence Conference (WAIC) in Shanghai, China, July 8, 2021.
REUTERS/Yilei Sun/File PhotoAug 7 (Reuters) - A number of global investors are opting out of Ant Group's (688688.SS) proposed share buyback after the Chinese fintech's valuation was slashed by more than 70%, Bloomberg News reported on Monday.
However, a few money managers, including Fidelity Investments and T. Rowe Price Group, have agreed to sell their shares, the report added.
In July, Ant Group announced a surprise share buyback of up to 7.6% of its equity interest at a price that represents a group valuation of about 567.1 billion yuan ($78.68 billion).
Ant Group, Warburg Pincus, GIC, Fidelity Investments and T. Rowe Price Group did not immediately respond to Reuters' request for comment.
Persons:
Ant Group's, Warburg Pincus, Rowe Price, Nilutpal, Varun
Organizations:
Ant, Artificial Intelligence, REUTERS, Yilei, Bloomberg, Plan Investment, Carlyle Group, Fidelity Investments, Rowe Price Group, Ant Group, GIC, Reuters, Thomson
Locations:
Shanghai, China, Canada, Bengaluru