SHANGHAI: Trading in the shares of Alibaba.com Ltd was halted pending an announcement regarding its parent, Chinese ecommerce giant Alibaba Group, which reportedly plans to buy back the 40% stake in it held by Yahoo Inc.
Sources told Reuters last month that Alibaba Group, founded by former English teacher and now billionaire Jack Ma, was looking to raise a US$3bil loan, which it would use to buy back part of the Yahooheld stake.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
