By  on August 12, 2014

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.

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