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Alibaba's Ant Financial Buys 20 Percent Of Data Firm For $35 Million: Source

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock ExchangeHONG KONG (Reuters) - Chinese e-commerce firm Alibaba Group Holding Ltd's affiliate Ant Financial has bought a fifth of financial data provider Shanghai Suntime Information Technology for around $35 million, a source with direct knowledge of the deal said. "The acquisition will provide Ant Financial with good financial products so that it can attract more clients," the source told Reuters on Friday. Ant Financial Services Group [ANTFIN.UL], valued at close to $60 billion, offers services like online payment, wealth management products and insurance. ...




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