Salem Radio Network News Friday, June 2, 2023


Alibaba splits into six units that may pursue individual IPOs – Bloomberg News

(Reuters) -Alibaba Group Holding Ltd plans to split its $220 billion business into six main units covering e-commerce, media and the cloud, each of which will explore fundraising or initial public offerings, Bloomberg News reported on Tuesday.

U.S.-listed shares of Alibaba rose 3.5% in trading before the bell.

Chief Executive Officer Daniel Zhang will head up the cloud intelligence division, the report said.

(Reporting by Lavanya Ahire in Bengaluru; Editing by Savio D’Souza)


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Gary Varvel
Thu, May 25, 2023