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Business deals

Tencent takes mobile payment fight with Alibaba to Philippines

WeChat Pay provider and KKR to invest $175m in PLDT fintech unit

PLDT fintech unit Voyager Innovations holds assets like PayMaya, a mobile wallet and payment platform. (Photo by Voyager Innovations)
CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- Chinese internet company Tencent Holdings and U.S. private equity firm KKR will jointly invest up to $175 million in the financial technology unit of Philippine telecom PLDT.

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