China wealth fund CIC in talks with Alibaba - official media
BEIJING, July 26
BEIJING, July 26 (Reuters) - Chinese sovereign wealth fund China Investment Corp. is in unspecified talks with Alibaba Group, the official People's Daily reported on Friday.
The paper said CIC mentioned the discussions at a briefing for Chinese media on Friday, but did not disclose the nature of them and did not give details.
CIC invested in Alibaba in September last year to help the group fund a partial buy-back of Yahoo! Inc's stake in the e-commerce company. Alibaba is currently preparing an initial public offering, after delisting subsidiary Alibaba.com in 2012.
Alibaba was not immediately available for comment.
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote