Alibaba sells Intime for $1 billion, takes $1.3 billion loss, shares fall 1.5%.

From Investing.com: 2024-12-16 23:36:30

Alibaba Group announced it will sell its 99% stake in Chinese department store operator Intime for about $1 billion, incurring a loss of $1.3 billion. The sale follows a corporate restructuring aimed at focusing on key money makers like e-commerce and cloud units. Alibaba’s shares fell 1.5% post announcement.



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