SEOUL: Alibaba’s payment affiliate Ant Financial will invest US$200mil (RM891.90mil) in a unit of South Korean messaging giant Kakao, the companies said, the Chinese firm’s latest step to expand its global reach.
The investment in Kakao Pay comes less than a month after Ant bought US-based payments operator MoneyGram for around US$880mil (RM3.92bil) and struck a partnership deal with Thailand’s Ascend Money in November.
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