Drew Bernstein, Co-Chairman, MBP was quoted on BBC World News regarding the stalled Ant Group IPO and what it means for the market.
BBC World News
This deal was not only cleared for takeoff; the wheels were off the ground. This company has very pervasive business practices that tap into all sorts of the financial industry in China. It is likely that regulators evolved their requirements to protect their financial system and ensure success with such a significant deal.”