Alibaba breakup lifts hopes China’s regulatory winter is thawing

Alibaba said it was planning to split into six units and explore fundraisings or listings for most of them, in the biggest restructuring of the technology conglomerate in its 24-year history. — Bloomberg

BEIJING: Investors cheered a major revamp of Alibaba Group as a sign Beijing’s crackdown on the corporate sector was nearing an end, sending shares of the Jack Ma-founded company and its peers soaring.

Alibaba said on Tuesday it was planning to split into six units and explore fundraisings or listings for most of them, in the biggest restructuring of the technology conglomerate in its 24-year history.