News Snapshot:
Alibaba is prepared to let go of some of the business units created in the break up of its empire. The group’s chief financial officer Toby Xu said the $220 billion Chinese internet giant would “continue to evaluate the strategic importance of these companies” and “decide whether or not to continue to retain control” on a conference call with investors today (Mar. 30). Advertisement Splitting the 24-year-old business is likely music to the ears of anti-monopoly, pro-data protection Chinese authorities that have been cracking down on the country’s internet firms over the last two years. Each business is poised to...
