On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

Listen Live Now » 1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
70° Feels Like: 70°
Wind: NNE 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Sunny 67°

Tonight

Partly Cloudy 43°

Tomorrow

Partly Cloudy 59°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Alibaba overhauls pact with Alipay parent, sells SME loan business

SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd overhauled its pact with the parent of its payments affiliate Alipay, boosting the Chinese e-commerce giant's potential gain if Alipay is sold or goes public, according to an amended Alibaba filing on Tuesday.

Alibaba, which is set to go public in New York later this year, also agreed to sell its small and medium enterprise loan business for $518 million cash to Alipay's parent company, called the Small and Micro Financial Services Company.

The deal was revised on Aug. 12, Alibaba said in the securities filing. The earlier agreement was reached in 2011.

(Reporting by Deepa Seetharaman; Editing by Chris Reese)

Comments