Alibaba unit Ant Financial looks to buy 20% in Thai payments firm Ascend Money

Alibaba unit Ant Financial looks to buy 20% in Thai payments firm Ascend Money

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer CHINA OUT

Ant Financial Services Group, Alibaba’s financial services affiliate, is seeking to buy a 20 percent stake in Ascend Money, an online payment provider based in Thailand, according to a notice on the website of China’s Ministry of Commerce.

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