Trending: Alibaba Planning to Split Into Multiple Companies
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Dow Jones
14:18 ET -- Alibaba Group Holding Ltd. is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The China-based conglomerate said on Tuesday it will split into six different units including cloud intelligence, local services, and digital media and entertainment. Each unit will be able to raise its own funds and conduct IPOs. That news came on the same day The Wall Street Journal reported that Alibaba's co-founder Jack Ma had recently returned to China after spending almost a year overseas. Dow Jones & Co. owns Factiva. (adam.cataldo@wsj.com)
(END) Dow Jones Newswires
March 28, 2023 14:33 ET (18:33 GMT)
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