Alibaba to Buy a Third of Ant Financial, Paving Way for IPO
A quick response (QR) code is displayed on an advertisement for Ant Financial Services Group’s Alipay, an affiliate of Alibaba Group Holding Ltd., at a Takeya Co. Ueno Select shop in Tokyo. (Photographer: Shiho Fukada/Bloomberg)  

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

(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.
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