Alibaba takes 33% stake in Ant Financial

China's Alibaba is redrawing its relationship with its payments affiliate Ant Financial, jettisoning a profit-sharing arrangement in favour of a direct equity stake and paving the way for the long-awaited listing of the owner of the Alipay app. No cash will change hands. Instead Alibaba will swap its intellectual … social experiment by Livio Acerbo #greengroundit