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Ant Financial Looks To Buy Stake In Thai Payments Company

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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BEIJING (Reuters) - Ant Financial Services Group, Alibaba's financial services affiliate, is seeking to buy a 20 percent stake in Ascend Money, an online payment provider based in Thailand, according to a notice on the website of China's Ministry of Commerce. Alipay (Hong Kong) Holding Limited, part of Alibaba Group Holding Ltd's Ant Financial Services Group, is also seeking an option to increase its stake in Ascend to 30 percent at a later date. No further details on the dollar value of the deal, the approval process or a timeframe were given. ...

 

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