Alibaba Group Holding Ltd (BABA)

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U.S. State Department files to blacklist Ant Group - Reuters
Oct. 14, 2020 2:29 PM ETAlibaba Group Holding Limited (BABA)By: Brandy Betz, SA News Editor60 Comments
Reuters sources say that he U.S. State Department has filed an application to put Ant Group on the trade blacklist.
The sources weren't clear on when the U.S. government would make a decision about whether to put the company on the Entity List.
The fintech giant is currently seeking a record $35B in dual IPOs in Shanghai and Hong Kong.
This is a breaking news. Post will update with more information when it becomes available.
Retired Alibaba chairman Jack Ma is the controlling shareholder of Ant Group and Alibaba (NYSE:BABA) holds a non-controlling stake.
Alibaba shares are currently down 1% to $305.64.