(Reuters) -Alibaba Group Holding Ltd is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the unit will explore fundraising or initial public offerings. U.S.-listed shares of Alibaba rose 3.5% in trading before the bell. (Reporting by Lavanya Ahire in […]
Business
Alibaba to split into six units, likely to pursue separate IPOs
(Reuters) -Alibaba Group Holding Ltd is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the unit will explore fundraising or initial public offerings.
U.S.-listed shares of Alibaba rose 3.5% in trading before the bell.
(Reporting by Lavanya Ahire in Bengaluru; Editing by Savio D’Souza and Arun Koyyur)