alibaba group holding ltd has decided not to sell any part of its onethird stake in ant group co during the chinese fintech leader’s imminent share buyback saying it wants to maintain its slice of an important partner alibaba said in an exchange filing it won’t take part in ant’s plan to buy back as much as 76 of its stock which the latter’s board has approved that decision comes after the ecommerce company and temasek holdings pte said they were considering unloading part of the stakes during the program ant a fintech pioneer that once dominated online spheres from mobile payments to money management has lost much of its value since regulators scrapped what would have been a record ipo at the eleventh hour in 2020 singapore’s state investment firm for one seeks a better understanding of how ant arrived at its repurchase valuation of about 5671 billion yuan 789 billion that’s almost 70 lower than an estimated 280 billion market capitalization in 2020 chinese regulators are wrapping up a twoyear crackdown on the country’s oncefreewheeling technology giants after slapping more than 1 billion of fines on ant and tencent holdings ltd in july ant has completed its overhaul ordered by beijing though that pinched profitability and sapped growth at a sprawling platform that spanned lending and insurance to asset management ant’s alipay remains a central payment method on alibaba’s taobao and tmall online shopping platforms and a key customer of its 11 billion cloud business the company is seeking to shore up the bottom line of its six main divisions which are set to split six ways to create several independent corporations most of which can then pursue their own funding and eventual market debuts “given that ant group continues to be an important strategic partner to alibaba group’s various businesses alibaba group has decided that it will not sell any shares to ant group under the proposed share repurchase so as to maintain its shareholding in ant group” the company said in its brief filing read more ant to buy back shares at 70 lower valuation than at ipo