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March 3, 2017 10:52 am GMT
While Alibaba’s Ant Financialfintech affiliate is out doing deals to expandits global presence and raising a $3 billion war chest for further M&A, its chief rival in China has made a strategic deal of its own. JD Finance, the financial services business belonging to Alibaba competitor JD.com, is going independent, according to a deal announced yesterday. The business was started… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/rmo5Tf5cngY/
Alibabas arch rival JD.com spins out its financial services business
While Alibaba’s Ant Financialfintech affiliate is out doing deals to expandits global presence and raising a $3 billion war chest for further M&A, its chief rival in China has made a strategic deal of its own. JD Finance, the financial services business belonging to Alibaba competitor JD.com, is going independent, according to a deal announced yesterday. The business was started… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/rmo5Tf5cngY/
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