Salem Radio Network News Friday, October 23, 2020

Business

Trump administration should seek to delay IPO of China’s Ant Financial – Senator Rubio

WASHINGTON (Reuters) – Marco Rubio, a top Republican senator who has successfully urged the Trump administration to pursue probes into Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering for China’s Ant Financial, the fintech arm of Chinese e-commerce giant Alibaba <9988.HK>.

“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio said in a statement to Reuters. “The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.

(Reporting by Alexandra Alper)

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