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Alibaba's Ant Group eyes metamorphosis into online mall to counter Tencent

Alibaba's Ant Group eyes metamorphosis into online mall to counter Tencent

People walk by the Alibaba Group logo. Photo: Bloomberg

Billionaire Jack Ma’s newest chieftain is accelerating Alipay’s evolution into an online mall for everything from loans and travel services to food delivery, in a bid to claw back shoppers lost to Tencent Holdings Ltd.