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Razer and Ant Financial apply for Singapore online bank licence
Gaming firm Razer and China’s Ant Financial hae applied for online bank licences in Singapore, joining the race to shake up the city state’s financial sector. Read more…
Ant Financial
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Jack Ma to retire from Alibaba one year from today
BEIJING (Reuters) – Jack Ma, the charismatic co-founder of China’s largest e-commerce firm Alibaba Group, will step down as chairman in exactly one year on Sept. 10, 2019, the company said. Current Alibaba chief executive Read more…
Off the Wire
Telenor partners with Ant to expand financial services in Pakistan
Telenor Group announced it has reached a strategic partnership agreement with Ant Financial Services Group in Pakistan, under which Ant Financial will invest $184.5 million for a 45% stake in Telenor Microfinance Bank (TMB) to Read more…
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US govt torpedoes Ant Financial’s MoneyGram buyout
(Reuters) – Ant Financial’s plan to acquire US money transfer company MoneyGram International collapsed on Tuesday after a US government panel rejected it over national security concerns, the most high-profile Chinese deal to be torpedoed Read more…
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CIMB subsidiary links up with Alipay in financial services JV
KUALA LUMPUR (Reuters) – CIMB Group Holdings, Malaysia’s second-biggest bank, on Monday said its subsidiary will form an equity joint venture with Ant Financial Services Group, the parent of Alipay, to provide mobile wallet and Read more…
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Rumor: Ant Financial to secure $3.5b loan to fund MoneyGram buyout
HONG KONG (Reuters) – China’s Ant Financial, an affiliate of online shopping giant Alibaba Group, is close to signing a $3.5 billion loan, a part of which will help fund its purchase of US money Read more…
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China’s Ant Financial forms JV to offer payment services in Indonesia
BEIJING (Reuters) – Ant Financial, the finance affiliate of Alibaba Group Holding , and Indonesian media company Elang Mahkota Teknologi (Emtek) are to form a joint venture to offer payment and financial services in Indonesia. Read more…
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China’s Ant Financial tries to soothe security concerns over MoneyGram takeover
BEIJING (Reuters) – China’s Ant Financial tried to soothe security concerns about its proposed $880 million takeover MoneyGram International Inc on Thursday, saying it intends to store U.S. user data locally once the deal closes. Read more…