Alibaba's U-turn on cloud unit spin-off lops $20 bln off its market value

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17 Nov 2023 0 shares 1 views

Alibaba's U-turn on cloud unit spin-off lops $20 bln off its market value

Alibaba's U-turn on cloud unit spin-off lops $20 bln off its market value

Upworthy

Published 17 Nov 2023

Alibaba Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights HONG KONG/SHANGHAI, Nov 17 (Reuters) - Alibaba Group's (9988.HK) Hong Kong shares slumped 10% on Friday after it scrapped plans to…

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Alibaba's U-turn on cloud unit spin-off lops $20 billion off its market value

(NYSE: ) Group's Hong Kong shares slumped 10% on Friday after it scrapped plans to spin off its cloud business, citing..

Upworthy 17 Nov 2023