BEIJING (Reuters) - Alibaba Group Holding Ltd's finance arm will launch its private internet bank, to be called MYbank in June, Yuan Leiming, Ant Financial's general manager of its finance division, told Reuters in an interview in Beijing on Thursday. Ant Financial will hold a 30 percent stake. Other shareholders will be: Shanghai Fosun Industrial Technology Development Co. Ltd, a subsidiary of Fosun International Ltd, with a 25 percent stake; a subsidiary of Wanxiang Group will hold 18 percent; and Ningbo Jinrun Asset Management will own 16 percent. ...
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