China's Cinda scraps $944m investment into Ant's consumer finance unit

China's Cinda scraps $944m investment into Ant's consumer finance unit

Ant Group's Hangzhou Headquarters. Source: Ant Group

China Cinda Asset Management said on Thursday it plans to scrap an agreement to buy a 20% stake in the consumer finance arm of Ant Group, worth 6 billion yuan ($943.83 million).