Alibaba to split up
E-commerce giant Alibaba has been in the Chinese Government’s sights for some months, which is why analysts weren’t surprised to hear that it’s been ordered by officials to sell off its media assets in a government effort to curb the company’s influence. In November, Chinese regulators stopped a $34bn stock market listing by Ant Group, massive Alibaba subsidiary for online payments. A month later, its regulators opened an investigation into the company’s business practices citing anti-competitive practices. And Alibaba’s founder/former CEO Jack Ma went MIA. Now China has reportedly told the tech giant it needs to sell Twitter-like social media platform Weibo, and the South China Morning Post. Chinese officials want to give the company less sway over public opinion, reports say. #SquizShortcuts
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