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Alibaba likely to yield control of some business units in rejig: Report ...Middle East
Top executives of Chinese e-commerce and financial giant Alibaba said Thursday that the company is moving toward giving up control of some of its business units in a transition toward becoming a capital operator to optimise the value of its sprawling businesses. Alibaba CEO Daniel Zhang outlined details of a plan announced earlier this week to split Alibaba into six main groups as a prelude toward stock listings of some of its companies. The restructuring marks a new stage in Alibaba's growth after a series of setbacks as regulators cracked down on it and other tech companies. Alibaba, whose headquarters is in the eastern city of Hangzhou, will be in the nature of a holding company that is t
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