China May Nationalize Alibaba, Impacting Companies with Ma’s Stakes Worldwide

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In a move to dampen ease of doing business, China launched antitrust investigation against Jack Ma's e-commerce giant Alibaba. On Thursday, this news incited an 8% fall in the value of the company's shares on the Hong Kong Stock Exchange. CCP leadership is going after Ant Group and Alibaba on the pretext of 'anti-monopoly work for better development'. Nationalizing of private entrepreneurial giants by Chinese government will give a big blow to the country’s business sentiments especially the private sector. Several Indian domestic companies like Paytm and Zomato, which have substantial financial backing from Ant Financial are also worried.

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