China’s Alibaba Says It Will Not Be part of Ant Group Share Buyback
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BEIJING (Reuters) – China’s Alibaba Group mentioned on Sunday it had determined to not take part in a proposed repurchase of shares by affiliate Ant Group, however would preserve its shareholding within the firm.
Ant Group introduced a shock share buyback of as much as 7.6% of its fairness curiosity earlier this month.
(Reporting by Amy Lv and Dominique Patton; Modifying by Jan Harvey)
Copyright 2023 Thomson Reuters.
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