APAlibaba Group Holding Ltd. plans to dispatch about half of its investment team to six different business units that will be created after the company's breakup, according to people familiar with the matter.
The e-commerce giant is placing about half of 70-some people from its investing arm with the newly formed arms focusing on businesses from cloud services to logistics, the people said, requesting not to be named because the matter is private.
Those units, with the exception of the core Chinese e-commerce operation, could potentially be spun off and listed in future. The decision was made so that the separate arms can continue to make deals quickly in a fast-changing environment, the people added.
A representative for the company didn't immediately respond to requests for comment.
The e-commerce giant is placing about half of 70-some people from its investing arm with the newly formed arms focusing on businesses from cloud services to logistics, the people said, requesting not to be named because the matter is private.
Those units, with the exception of the core Chinese e-commerce operation, could potentially be spun off and listed in future. The decision was made so that the separate arms can continue to make deals quickly in a fast-changing environment, the people added.
A representative for the company didn't immediately respond to requests for comment.
Thursday, 18 May, 2023Experience Your Economic Times Newspaper, The Digital Way!
- Front Page
- Pure Politics
- Brands & Companies
- Economy
- More
Sebi Gets Till Aug 14 to Submit Probe ReportThe Supreme Court on Wednesday gave the Securities and Exchange Board of India (Sebi) until August 14 to submit its report on US short-seller Hindenburg Research’s report on the Adani Group.
AWS to Invest $12.7 billion in India till 2030India is an “incredibly energised, high-growth market,” according to Adam Selipsky, chief executive officer of Amazon Web Services (AWS), the $80-billion cloud computing arm of online retail giant Amazon.
Read More News on
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
