<p>China's Alibaba Group said on Sunday it had decided not to participate in affiliate Ant Group's proposed repurchase of shares, but would maintain its shareholding in the company.</p>.<p>Ant Group announced a surprise share buyback of up to 7.6 per cent of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/chinese-chipmaker-hua-hong-seeks-up-to-295-billion-in-mainland-listing-1239875.html">Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing</a></strong></p>.<p>Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33 per cent stake.</p>.<p>The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing.</p>
<p>China's Alibaba Group said on Sunday it had decided not to participate in affiliate Ant Group's proposed repurchase of shares, but would maintain its shareholding in the company.</p>.<p>Ant Group announced a surprise share buyback of up to 7.6 per cent of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/chinese-chipmaker-hua-hong-seeks-up-to-295-billion-in-mainland-listing-1239875.html">Chinese chipmaker Hua Hong seeks up to $2.95 billion in mainland listing</a></strong></p>.<p>Online retail giant Alibaba, which spun off Ant 12 years ago retains a 33 per cent stake.</p>.<p>The fine has fuelled hopes that a years-long regulatory crackdown on the company has ended, which could allow it to secure a financial holding company licence, focus on growth, and eventually, revive its plans for a stock market listing.</p>