SAN FRANCISCO (Reuters)—Alibaba Group Holding Ltd has overhauled its pact with the parent of fast-growing payments affiliate Alipay, boosting the Chinese e-commerce giant's potential gains if that company is sold or goes public.
The revised deal strengthens ties between Alibaba and Alipay, which is crucial to powering online e-commerce but became the subject of controversy after it was spun off separately. That move spurred protests from major shareholders Yahoo Inc and Softbank Corp and led to a framework agreement in 2011.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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