South Korea fears growing impact of Chinese e-commerce players
South Korea’s Fair Trade Commission is investigating the rapid growth of Chinese e-commerce giant AliExpress, ...
CNN reports:
Alibaba founder Jack Ma has sold billions of dollars worth of his shares in the Chinese ecommerce company over the past year as its stock has skyrocketed by about 50%. Ma, one of China’s richest people, cut his stake from 6.2% to 4.8%, according to the company’s annual report.
The report did not say when Ma sold his shares or for how much. At the current market price, the stake would be worth about $8.2 billion. Ma retired last year as the company’s executive chairman at the age of 55 and said he would devote his time to philanthropy.
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