off-the-wire

QUOTES-Alibaba to split into six units

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 28 (Reuters) - Alibaba Group Holding Ltd said it plans split its business into six main units covering e-commerce, media and the cloud, adding that each of the units will explore fundraising or initial public offerings. Alibaba's U.S.-listed shares rose 7% in pre-market trading.


Here are comments from analysts on the move:


KENNY NG, STRATEGIST AT CHINA EVERBRIGHT SECURITIES, HONG KONG "It releases additional value. with this expectation, investors will be more positive on Alibaba. It may reflect a new round of development for the business and reduce worries of regulatory issues." (Reporting by Tom Westbrook; Compiled by Anshuman Daga; Editing by Louise Heavens)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.