Alibaba chairman Jack Ma-backed Yunfeng Financial Group, which is leading the US$1.7 billion acquisition of the Asian unit of Massachusetts Mutual Life Insurance, said it won’t complete the deal until the third quarter of 2018 due to the complex approval process involved.
Jack Ma Yun, born in 1964, is a famous Chinese Internet entrepreneur and founder of Alibaba, Taobao and Alipay, three of China's leading e-commerce firms.
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