E-commerce giant Alibaba Group Holding has agreed to buy a 33-per cent stake in affiliate Ant Financial Services, which runs online payments platform Alipay. Photo: Bloomberg

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

E-commerce giant Alibaba raises annual sales forecast after posting a 56 per cent year-on-year increase in revenue to US$13 billion in the December quarter

Topic |   Alibaba

TOP PICKS

E-commerce giant Alibaba Group Holding has agreed to buy a 33-per cent stake in affiliate Ant Financial Services, which runs online payments platform Alipay. Photo: Bloomberg
READ FULL ARTICLE