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Post Covid-19 cold war world will be a tough place for Jack Ma's Ant Group

China sales account for about 95% of Ant's revenue. Yet overseas expansion is destined to become more important to the company

Jack Ma | Alibaba | China

Nisha Gopalan } Bloomberg 

Jack Ma
Ant will have no problems raising the $30 billion it’s seeking in this mega-IPO.

Ensconced in a lucrative niche at home, Jack Ma’s Ant Group nevertheless has to look outward. And expanding overseas has never looked so difficult for China’s biggest payments app, even with the war chest from what may be a world-record initial public offering.



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First Published: Thu, August 27 2020. 07:32 IST