JACK MA’S ANT EYES MORE GLOBAL DEALS

Firm to boost off­shore rev­enue, but­tress it­self from ris­ing com­pe­ti­tion

New Straits Times - - Business -

SHANG­HAI out­side its home turf for growth.

Over the past two years, Ant Fi­nan­cial has un­veiled in­vest­ments in coun­tries in­clud­ing In­dia, Thai­land, South Korea and France, and is cur­rently ne­go­ti­at­ing to ac­quire MoneyGram In­ter­na­tional Inc.

“We look to make fur­ther an­nounce­ments and deals on part­ner­ship over the course of 2017,” said Fea­gin.

He de­clined to iden­tify spe­cific in­vest­ment tar­gets.

“In terms of fund­ing that, we have a strong po­si­tion given the scale and po­si­tion of our busi­ness in China and around the world to fund th­ese busi­nesses,” he said. “We have strong cash flows from our ex­ist­ing fran­chise and ser­vices. And we have ac­cess to mar­kets as needed to add to th­ese ca­pa­bil­i­ties.”

Ant Fi­nan­cial was seek­ing to raise less than US$3 bil­lion by is­su­ing debt to fund its ac­qui­si­tions, in­clud­ing the MoneyGram pur­chase, said sources. Bloomberg

BLOOMBERG PIC

Since 2004, Ant Fi­nan­cial’s Ali­pay plat­form has built it­self into an on­line gi­ant that con­trols more than half of China’s US$5.5 tril­lion mo­bile-pay­ments mar­ket.

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