Alibaba to Buy a Third of Ant Financial, Paving Way for IPO

in Finance & Accounting, News & Views / by Newsfeed /

(Source: Bloomberg) Alibaba Group Holding Ltd. will buy 33 percent of Ant Financial, helping to clear the way for an initial public offering of the Chinese payments giant. … Ant Financialpaid Alibaba about 2.09 billion yuan ($332 million) in royalty and technology fees in fiscal 2017, up about 86 percent from the previous year, according to a 2017 …

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