JAKARTA (TheInsiderStories) - Indonesia conglomerate firm, PT Elang Mahkota Teknologi Tbk (IDX: EMTK) established a strategic partnership with API Hong Kong Investment Limited (API), affiliate of the Alibaba Group over Ant Financial, an online payment services company in China. API will acquired 39 percent shares of EMTK’s unit, PT Creative Media Works (KMK). Unfortunately no mention of the transaction value. The purpose of the transaction, as reported in the disclosure to Indonesia Stock Exchange, is made EAN mobile platform owners for payment and other transaction services, and to improve the accessibility of digital financial services in Indonesia,Corporate Secretary Titi Maria Rusli said.
Previously reported, Ant Financial plans to issue bonds of more than US$3 billion to fund a number of its international expansion plan. Besides hunting for financing through debt securities, financial Ant is finalizing plans to hold an initial public offering (IPO). Currently, the financial Ant have as many as 450 million users. Ant Financial, operator of China’s popular online payment platform Alipay provides a wide range of digital financial services to over 450 million users in China and beyond. The new payment platform will be offered on BBM, Indonesia’s most commonly used messenger application, which is operated KMK and has a user base of over 63 million monthly active users. (*)