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Reuters (November 16)

2023/ 11/ 18 by jd in Global News

“Restructuring a restructuring isn’t good news. Alibaba scrapped the spinoff of its prized cloud computing business, blaming U.S. curbs on advanced chips,” causing its shares over 10% lower. “The U-turn dashes market expectations of stability among technology companies after the end of Beijing’s years-long regulatory crackdown. The country’s weak economy and bad geopolitics mean the sector hasn’t yet hit a bottom.”

 

Reuters (October 6)

2023/ 10/ 08 by jd in Global News

“It’s getting harder for China Inc to go global, and tougher for global financial advisors to take on the rapidly shrinking pool of related mandates.” Concerns over spying cannot be squelched. Alibaba provides the latest example. “Belgium’s intelligence service on Thursday confirmed it is scrutinising the tech behemoth’s European logistics hub just days after its courier unit Cainiao filed to go public in Hong Kong.” Chinese companies can expect “rising political risks… as they expand overseas. And that, in turn, might make bankers more cautious when taking on deals.”

 

BBC (December 6)

2019/ 12/ 08 by jd in Global News

Saudi Aramco, the state-owned oil giant, “raised a record $25.6bn (£19.4bn) in its initial public offering in Riyadh. The share sale was the biggest ever, surpassing that of China’s Alibaba which raised $25bn in 2014 in New York.” When trading begins, it will become “the most valuable listed company in the world,” valued at $1.7tn based on the IPO.

 

The Economist (September 17)

2017/ 09/ 18 by jd in Global News

“Investors outside China have about $1trn invested in firms that use” variable interest entities (VIEs). These include Alibaba and Tencent. Yet, it remains “unclear if VIEs are even legal in China,” exposing investors to two risks. “First, the VIEs could be ruled illegal, potentially forcing the firms to wind up or sell vital licences and intellectual property in China. The second danger is that VIE owners seek to grab the profits or assets held within. If they refuse to co-operate, die, or fall out of political favour, it is far from clear that firms can enforce VIE contracts in Chinese courts.”

 

Barrons (November 10)

2015/ 11/ 11 by jd in Global News

“Politics and religion may divide people, but everyone loves a good sale.” On Wednesday, Alibaba Holdings, the e-commerce giant, will start “its sixth annual 11.11 Global Shopping Festival. The 24-hour shopping-palooza, also known as Singles Day, generated $9.3 billion in sales last year, dramatically more than the $2.7 billion sold during America’s Cyber Monday. Analysts predict sales will set a new record this week.”

 

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