Alibaba Group announced today that it has agreed to sell its entire stake in Intime Retail to a buyer consortium led by Youngor Group and Michael MaienIntime’s management team. According to publicly available information, the Chinese tech giant holds around 99% of Intime’s stock. The sale is valued at around RMB 7.4 billion ($1 billion). Alibaba expects to incur a loss of about RMB 9.3 billion ($1.3 billion) as a result of the sale of Intime.
Intime, a major offline retail chain, became an integral part of Alibaba’s strategy for integrating online and offline commerce following a strategic partnership announcement in June 2015. The company later accepted Alibaba’s share swap offer, which increased the Taobao owner’s stake to 27.9%, making it the largest shareholder in Intime by June 2016.
Alibaba’s Chairman, Joe Tsai, had previously stated that the company has completed $1.7 billion in non-core asset sales in the first nine months of its 2024 fiscal year (April 1 to December 31, 2023).Earlierreports had suggested that Alibaba was also selling its stakes in physical retail operations, including RT-Mart and Freshippo. [Alibaba Group]
Previous：Cosby Walks
Next：A Contemporary Novel
Of Monsters and Men
James Shaw Jr. saved lives by disarming Waffle House shooter
Arctic sea ice is filled with microscopic bits of plastic litter
How natural hair is playing a big role on television
Overproduction and Its Discontents
All the random movie roles the 'Avengers' star had before they were famous
'Avengers: Infinity War' should kill off Captain America
All the random movie roles the 'Avengers' star had before they were famous
Chat’s Entertainment
Why Google needs to fix Android's texting problem
Back to the Wall
Scientific study on Trump voters confirms what people of color have been saying all along
Facebook doubles the amount of terrorism content scrubbed from its platform
Google may finally have made a decent Android messaging app in Chat
Mucked Up
People's Gmail accounts appear to be sending out spam
JK Rowling reveals new 'Fantastic Beasts' character
How to use less data on your iPhone every month
The President is Arrested
How to use less data on your iPhone every month
Apple says shipments of iPhone 14 Pro and Pro Max might be delayedElon Musk is running out of options to turn Twitter aroundWordle today: Here's the answer, hints for November 6Tropical Storm Nicole path: Storm threatens Florida with hurricane landfallNetflix has a trivia game you can play right nowInstagram rolls out inBeto O'Rourke livestreamed his haircut. Yes, his haircut.The best TV shows by Latina and Latino creators on Disney+Here's why everyone's mad about Kylie Jenner's new walnut scrubPornhub searches for Tesla surge thanks to *that* video and some Elon Musk tweets'SighSwoon' merges selfHow the 'x' became a sign of female solidarity in the age of harassmentElon Musk chopped a chunk off Twitter. Other tech giants are already bleeding.Can an $8 Twitter subscription bail out Elon Musk? Let's look at the numbers.How to make your masturbation session as pleasurable as possibleMet Gala 2019: How celebrities did 'Camp' on the pink carpetHow BDSM helped me deal with sexual traumaElon Musk will reportedly lay off thousands of Twitter employees by Friday morningYouTube Shorts goes headElon Musk will reportedly lay off thousands of Twitter employees by Friday morning Look: Richard Brautigan’s Poetry Inspires Techno My Grandmother’s Wheelchair by Stephen Hiltner Williams Found Plums in the Icebox—Do They Belong There? The Book Cover in the Weimar Republic On “Hangry” From the Archive: “Mannerism,” a Poem by René Ricard The Misanthrophy of R. S. Thomas The Battle of the Butt: Revisiting Norman Lear’s Cold Turkey Having Trouble Sleeping? Read the Ultimate Insomnia Cure. Benjamin Moser on Clarice Lispector’s Complete Stories Leslie Jamison and Ryan Spencer Take on the Apocalypse Did Herman Melville’s Mother Make Him Watch Her Sleep? Aubrey Beardsley’s Haunting Edgar Allan Poe Illustrations The World’s First Multicolor #ReadEverywhere, Even in the Clouds Staff Picks: Baseball Cards, Barbarian Days, Blow Staff Picks: Buses, Basements, Boots, Bed “Coke,” a Poem by Scott Cohen Cynthia Macdonald, 1928–2015 by Dan Piepenbring Notes on Unreadable Books
2.0964s , 8173.3203125 kb
Copyright © 2025 Powered by 【Michael Maien】,Fresh Information Network