Crackdown-hit Alibaba to divest 5% stake in Chinese broadcaster
An investment arm of Chinese e-commerce giant Alibaba Group Holding Ltd, targeted in a regulatory crackdown, will divest its entire stake of 5.01% in broadcaster Mango Excellent Media Co Ltd, the media firm said. The sale comes less than a year after the investment in December last year, as Chinese authorities mount an anti-trust crackdown … Read more