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Alibaba Group Holding Ltd.’s finance affiliate, Ant Financial, is alleged to have acquired a 20 percent stake in Shanghai Suntime Information Technology Co., a data provider tracking Chinese hedge funds, according to Bloomberg sources.
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Zhejiang Ant Small & Micro Financial Services Group reportedly paid 250 million yuan ($38 million) for the stake earlier this week in a deal which has not yet been publicly disclosed.
Ant Financial, as the company is known, is controlled by Alibaba founder Jack ... (read more)