AliPay 'progress'
By Ding Yining |
June 23, 2011, Thursday
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Print Edition
Print Edition
ALIBABA Group, China's largest e-commerce company, yesterday said it has made "substantive progress" with major shareholders Yahoo! Inc and Softbank Corp over a dispute about the transfer of AliPay, the group's online payment unit.
"Our objective is to reach an agreement in a timely manner that serves the interests of all stakeholders," the three parties said in a joint e-mailed statement yesterday.
Alibaba transferred AliPay to secure a third-party payment license.
"Our objective is to reach an agreement in a timely manner that serves the interests of all stakeholders," the three parties said in a joint e-mailed statement yesterday.
Alibaba transferred AliPay to secure a third-party payment license.
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