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

[March 07, 2016]  (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd's <BABA.N> finance arm, Ant Financial Services Group, could be valued at nearly $50 billion in its current round of funding, the Wall Street Journal reported.

Ant Financial plans to raise up to 20 billion yuan ($3.07 billion) from new and existing investors in this round, the WSJ reported on Monday, citing people familiar with the situation. (http://on.wsj.com/1nr5xPC)

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.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)

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