Ant Group's valuation could drop to $108 billion: Bloomberg

Ant Group's valuation could drop to $108 billion under the draft rules proposed by China, according to Bloomberg Intelligence. The proposals aimed at curbing market concentration in Chinese online payments market could reduce the value of Ant's Alipay service by half, the report stated. Ant Group's valuation was estimated to reach over $320 billion before its $35-billion IPO was suspended.