Factbox: Ant Group's investments overseas

  • 10/29/2020
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(Reuters) - China"s Ant Group Co Ltd 688688.SS6688.HK has invested far and wide overseas, both to expand its own Alipay payments service and in local e-wallet companies.But ahead of its $34.4 billion dual listing in Hong Kong and Shanghai, Ant has been scaling back support for its overseas partners in a strategy rethink. Following is a selection of its overseas investments, most of which are in Asia. Some of the reporting is drawn from interviews with more than a dozen executives who work or worked with Ant in nine countries as well as with company sources. All declined to be identified due to confidentiality agreements. Ant did not comment on specific investments. Paytm (India): Ant first invested in Indian payments group Paytm in 2015 and now holds a 30% stake in Paytm parent firm One97 Communications, according to Ant’s prospectus, which described the Indian firm as a major associate. TrueMoney (Thailand): Ant invested an undisclosed amount in Thai conglomerate True’s financial fintech firm Ascend Money in 2016, which operates the e-wallet TrueMoney. Sources say Ant’s stake is around 25-30% and that while Ascend Money has a regional presence, Ant is only involved its Thai operations. TrueMoney declined to comment.

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