Ant Financial 'in talks' with Caixin

Alibaba Group Holding Ltd's financial affiliate is in talks to invest in Chinese business magazine publisher Caixin Media Co as billionaire founder Jack Ma expands his media interests, according to two people familiar with the matter.

Caixin, founded by Hu Shuli, has been discussing a stake sale with Ma's Zhejiang Ant Small & Micro Financial Services Group Co, the people said, asking not to be identified because the matter is private. No deal has been signed, the people said, declining to comment on the price or size of the stake.

Alibaba agreed in December to buy Hong Kong's South China Morning Post newspaper as Ma, who controls Ant Financial, expands his media empire. An investment in Caixin, which has a news website, mobile applications and conference business, would mark another connection between Ma and the publisher's Chairman Li Ruigang.