RTR: China's Alibaba to break up empire into six units as Jack Ma returns home

ID 116498071 © Alexey Novikov | Dreamstime.com

REUTERS reports:

Alibaba Group (9988.HK) plans to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.

The U.S.-listed shares of the Chinese e-commerce conglomerate, which have lost nearly 70% of their value since the curbs started in late 2020, rose nearly 9% ...