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

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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 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 its Singles…

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