[link - Bloomberg: Fidelity Slashes Ant Valuation after Chin Tech's Crackdown]
- Fidelity Investments halved its valuation estimate for Ant Group Co. following a Chinese regulatory crackdown on the fintech giant, joining other global fund managers in cutting estimates for Ant’s worth. The Boston-based money manager lowered the implied valuation for Ant to about $144 billion at the end of February, compared with a $295 billion value assigned in August, according to U.S. filings.
- Fidelity’s current price tag would be lower than the $150 billion valuation when it invested in Ant back in 2018. Warburg Pincus also lowered its estimate to a range of $200 billion to $250 billion, people familiar have said. The Wall Street Journal earlier reported Fidelity’s figures.
- The company will transform itself into a financial holding company, with authorities directing the firm to open its payments app to competitors, increase oversight of how that business fuels it crucial consumer lending operations, and ramp up data protections
Still, if you compare Alibaba's ownership in Ant Financial (33% * USD 144bn, using Fidelity's latest valuation), we are talking about ~USD 48bn. This is <10% of Alibaba's total current market capitalization as of 3rd May 2021. Hence, we believe the medium to long term outlook of Alibaba is still more reliant on the e-Commerce and cloud computing business.
沒有留言:
發佈留言