Alibaba is picking up 33% of Ant Financial, its fintech affiliate that’s valued at over $60B

techcrunch.com

Alibaba has added an additional angle to the announcement of its latest financial report today with news that it is taking a 33 percent stake in Ant Financial, its fintech affiliate that operates Alipay and other financial services.

To be honest, I'm not really sure what this means. Alibaba and it's subsidiaries seem unnecessarily complex to me, but Ant Financial is supposedly one of the largest private fintech companies at the world at this point.

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