Ant Financial to Enter Into Hong Kong Joint Venture With CK Hutchison
09.29.17
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Simpson Thacher is representing Ant Financial Services Group in a joint venture with CK Hutchison to offer e-wallet services in Hong Kong under the brand “AlipayHK.” CK Hutchison is a renowned multinational conglomerate committed to innovation and technology. In Hong Kong, CK Hutchison operates the telecom operator Hutchison Telecommunications offering “3HK” mobile telecom services and major retail chains including Watsons (health and beauty), ParknShop (grocery) and Fortress (appliances), serving over 6.6 million Hong Kong telecom and retail loyalty customers.
The Simpson Thacher team includes Katie Sudol, Sandra Kister, Olivia Tang and Sonya Ho (M&A); Venus Lo (Hong Kong - M&A); Jeff Ostrow and Marcela Robledo (Intellectual Property); and David Vann, Étienne Renaudeau and Jonathan Skinner (Antitrust).