What impact have the new regulations had on Ant Group's lending business?
Ant Plans Credit Unit Overhaul
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Ant Group faces significant regulatory challenges, needing licenses for nationwide operations. The company plans to consolidate its assets into a new financial entity to comply with regulations. Additionally, the government has advised Ant to restructure its priorities. Jack Ma, the company's founder, has not been detained but remains out of public view since the IPO halt, with his fortune significantly reduced.
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What steps is Ant Group planning to take regarding their company structure?
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