December 24, 2018 / 12:59 PM / in 5 months

Ant Financial in talks to buy UK payments firm WorldFirst - Sky News

Dec 24 (Reuters) - Ant Financial Services Group, Chinese e-commerce giant Alibaba Group Holding Limited’s fintech affiliate, is in advanced talks to buy British currency exchange startup WorldFirst in a deal that could be worth more than 500 million pounds ($632.5 million), Sky News reported on Monday, citing sources.

Ant Financial, China's biggest online payments platform, has been in talks with WorldFirst for several months, according to the report here

Ant Financial and WorldFirst were not immediately available for comments.

The Sky News report also said that it was unclear whether existing investors would retain a stake in WorldFirst, which was founded in 2004 in the basement of a house in South London. ($1 = 0.7906 pounds) (Reporting by Shashwat Awasthi in Bengaluru; Editing by James Emmanuel)

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