Ant Financial Reportedly To Acquire 30% Of Tebon Fund Management

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Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, is reportedly planning to acquire a 30% stake in Shanghai-based Chinese asset management firm, Tebon Fund Management Co., Ltd.

Ant Financial has the right to increase its stake to 60% at a future date, but the transaction is still under discussion and may fall apart.

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