Ant Financial Services Group, an affiliate of Chinese e-commerce titan Alibaba, is in negotiations for funding that have reached a "critical stage" and value the company at $30 billion, news magazine Caixin reported on Monday.
The report cited unidentified sources as saying China's state-backed social security fund, Postal Savings Bank of China, and CDB Capital, an investment arm of China Development Bank, would be among the strategic investors in discussions for stakes of 5 per cent, 3 per cent and 3 per cent respectively.
The report cited unidentified sources as saying China's state-backed social security fund, Postal Savings Bank of China, and CDB Capital, an investment arm of China Development Bank, would be among the strategic investors in discussions for stakes of 5 per cent, 3 per cent and 3 per cent respectively.
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