Ant Group outbids Citadel Securities for Credit Suisse's China investment banking venture.
Ant Group, a Chinese fintech firm backed by Jack Ma, has outbid Citadel Securities for Credit Suisse's investment banking venture in China. The deal will face close regulatory scrutiny as China prefers foreign buyers. UBS Group, the owner of Credit Suisse, will have to decide between Ant's higher local bid and Citadel's lower bid that is more likely to secure government approval.
February 26, 2024
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