Alibaba's Ant Financial could be valued at nearly US$50b: WSJ

[LONDON] Chinese e-commerce giant Alibaba Group Holding Ltd's finance arm, Ant Financial Services Group, could be valued at nearly US$50 billion in its current round of funding, the Wall Street Journal reported.

Ant Financial plans to raise up to 20 billion yuan (US$3.07 billion) from new and existing investors in this round, the WSJ reported on Monday, citing people familiar with the situation.

The latest round of funding is expected to be completed by mid-April, the Journal reported.

Alibaba and Ant Financial were not immediately available for comment.

REUTERS