Alibaba-led group nears US$8bil Unigroup takeover

The Chinese central government is leaning towards the Alibaba-led offer given the e-commerce giant’s financial heft and the potential synergies with its own cloud and semiconductor business, sources said.

BEIJING: A consortium led by Alibaba Group Holding Ltd, has emerged as the frontrunner to take over Tsinghua Unigroup Co, a deal that could fetch more than 50 billion yuan (US$7.8bil or RM32.69bil) to help keep China’s indebted chip champion afloat.

The Chinese central government is leaning towards the Alibaba-led offer given the e-commerce giant’s financial heft and the potential synergies with its own cloud and semiconductor business, sources said.