HONG KONG: A media firm that Alibaba Group Holding Ltd recently bought said a review of its finances revealed possible accounting irregularities, casting doubts about the Chinese e-commerce giant’s due diligence as it prepares for a US initial public offering (IPO).
The announcement by Alibaba Pictures Group Ltd comes less than two months after Alibaba Group completed its US$804mil purchase of a 60% stake in the film and TV production company once known as ChinaVision Media Group Ltd.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
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!