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Alibaba's Ant team prepares for IPO, tours Silicon Valley

Alibaba itself trades on the New York Stock Exchange, but a person familiar with the situation says Ant is unlikely to follow suit owing to Chinese regulatory hurdles.

New York

A TEAM of executives from Alibaba Group Holding Ltd's banking and payments arm recently visited Silicon Valley to size up potential investments and lay the groundwork for an initial public offering expected as soon as next year.

Ant Financial is a behemoth in China, where...

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