Jack Ma, the billionaire founder of Chinese ecommerce group Alibaba, is poised to expand his media holdings as his online finance company eyes a stake in Caixin, the business magazine.
Two people close to Caixin said discussions were under way for Ant Financial, the payments, banking and asset management affiliate of US-listed Alibaba, to buy an undisclosed holding.
If successful it would be the second recent media investment by Mr Ma’s companies, following Alibaba’s December purchase of South China Morning Post for $266m.
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