Alibaba said Tuesday it will split its company into six business groups, each with the ability to raise outside funding and go public.
Alibaba said in a statement that the move is "designed to unlock shareholder value and foster market competitiveness."Follow your favorite stocksAlibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. But analysts think the e-commerce giant's growth could pick up through the rest of 2022.
said Tuesday it will split its company into six business groups, each with the ability to raise outside funding and go public, in the most significant reorganization in the Chinese e-commerce giant's history.Alibaba said in a statement that the move is "designed to unlock shareholder value and foster market competitiveness.
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