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Report: Chinese payments giant Ant Financial makes £500M bid for World First

Payments giant Ant Financial is in talks for a £500 million takeover of British payments company World First U.K. Ltd., in a move that would be one of the most significant instances to date of a Chinese company buying a British fintech, Sky News reported Dec. 24.

Ant Financial and World First have been in talks for several months, according to the report.

World First provides foreign exchange and money transfer services to individuals and business. The company has transferred over £60 billion since it was set up 15 years ago, according to Sky News.