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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

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