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News For BABA From the Last 2 Days
May 25, 2017 | 06:43 EDT
Alibaba (BABA) and its financial services arm, Ant Financial, plan to lead an investment round of at least $1B in Chinese food-delivery startup, Bloomberg reports, citing people familiar with the matter. The financing from Alibaba will value at $5.5B-$6B and will help the service compete with rival startup Meituan Dianping, which is backed by Tencent Holdings (TCEHY). Reference Link
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