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Alibaba to acquire 33pc stake in Ant Financial, clearing the way for Alipay operator’s IPO

  • Fri, 02 Feb 2018 05:24
Alibaba Group Holding has agreed to acquire a 33 per cent stake in affiliate Ant Financial Services, deepening the e-commerce company’s participation in China’s fast-growing financial technology sector and paving the way for the public listing of the firm that runs payments giant Alipay. Hangzhou-based Alibaba also raised its annual sales forecast on Thursday after posting strong revenue growth in its fiscal third-quarter ended December 31, boosted by record consumer spending during... South China Morning Post - China Business feed

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