Thursday, November 14, 2024

Mind Uncharted Explore. Discover. Learn.

Alibaba declines Ant Group share buyback offer.

Nick Dunn July 23, 2023 International News and Affairs

Alibaba Group’s Decision on Ant Group Share Repurchase

BEIJING, July 23 (Reuters) – China’s Alibaba Group (9988.HK) announced on Sunday that it has made the decision not to participate in a proposed repurchase of shares by its affiliate, Ant Group. However, Alibaba will maintain its current shareholding in the company.

Ant Group’s Surprise Share Buyback

Earlier this month, Ant Group made a surprise announcement regarding a share buyback plan, which will allow repurchasing up to 7.6% of its equity interest.

Reporting and Editing

This news article was reported by Amy Lv and Dominique Patton, and edited by Jan Harvey.

Thomson Reuters Trust Principles

As a trusted news organization, we adhere to The Thomson Reuters Trust Principles.

Source

About Nick Dunn

Meet Nick Dunn, an exceptional author on our blog with a focus on news and politics. With an expertise in covering current affairs, international news, opinion and analysis, as well as politics and government, Nick delivers insightful and thought-provoking posts that are both informative and engaging. With his in-depth knowledge and sharp analysis, he keeps you informed and up-to-date on the latest news and developments around the world!