Wednesday, May 31, 2023

Alibaba Plans on Control Over New Business Units After IPOs

By ET Bureau - March 30, 2023 1 Mins Read

Alibaba Plans on Control Over New Business Units After IPOs

On Thursday, Alibaba Group, a Chinese multinational technology company dealing in e-commerce, retail, Internet, and technology, announced that it would explore opportunities to monetize non-core assets and think of giving up control of a few businesses. The news came after the Chinese tech conglomerate reimagined itself post a regulatory crackdown that wiped out 70% of shares. According to a report by Reuters, the company’s breakup into individual businesses will enable its units to become agile and eventually have their own listing.

Read More: Alibaba considers yielding control of some businesses in overhaul

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