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Alibaba to buy 33% stake in Ant Financial
2018-02-01 13:17:00| Telecompaper Headlines
(Telecompaper) Alibaba announced an agreement to buy a 33 percent stake in Ant Financial, operator of the Chinese payment system Alipay, which was spun off from Alibaba in 2011. The no-cash deal is in exchange for Ant stopping royalty payments to Alibaba, a move that could pave the way for Ant Financial to seek its own stock market listing.
Tags: buy
financial
alibaba
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Category:Telecommunications
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