News Formal

Alibaba to decide on control over new business units after IPOs

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Alibaba restructuring to enhance decision-making, CEO says

SHANGHAI/HONG KONG :Alibaba Group's breakup into separate companies will allow its business units to become more agile and eventually list on their own, the tech conglomerate's chief executive Daniel Zhang said on Thursday.

The business units will have their own CEOs and boards, though Alibaba will retain seats on those boards in the short-term, Zhang added. "We believe the market is the litmus test so each company can pursue financing and IPO as and when they are ready," said Xu.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks rally as banking anxiety eases; Alibaba surgesSINGAPORE : Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba's stock soared on the internet behemoth's plans to split into six units. MSCI's broadest index of Asia-Pacific shares outside Japan was 0
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »