Alibaba rival JD.com to sell finance arm for $2.1b

Alibaba rival JD.com to sell finance arm for $2.1b

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo

JD.com Inc. agreed to sell its finance arm for 14.3 billion yuan ($2.1 billion) in cash while retaining a share of its future profits, part of a deal to spin off the fast-growing division and create a strong rival to billionaire Jack Ma’s Ant Financial.

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