has invested far and wide overseas, both to expand its own Alipay payments service and in local e-wallet companies.
FILE PHOTO: The logo of Ant Group, an affiliate of Alibaba, is pictured at its headquarters in Hangzhou, Zhejiang province, China October 26, 2020. REUTERS/Aly Song 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.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.
Mynt said in a statement that GCash has been cooperating closely with Ant and its committed support had helped it reinforce its position as market leader in the Philippines.In April 2017, Ant formed a venture with Indonesian media company Elang Mahkota Teknologi to launch e-wallet DANA. Sources say Ant is in final talks to merge DANA with local rival OVO, which is backed by ride-hailing firm Grab, and that Ant will hold a 20-25% stake in the merged entity.
Good reporting. It looks like a great threat to the free world to me. Remember Chinese Communist Party is behind all Chinese companies by law
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