China wealth fund CIC in talks with Alibaba: official media

BEIJING Fri Jul 26, 2013 6:41am EDT

Employees stand on a logo of Alibaba (China) Technology Co. Ltd during a media tour organised by government officials at its headquarters on the outskirts of Hangzhou, Zhejiang province June 20, 2012. REUTERS/Carlos Barria

Employees stand on a logo of Alibaba (China) Technology Co. Ltd during a media tour organised by government officials at its headquarters on the outskirts of Hangzhou, Zhejiang province June 20, 2012.

Credit: Reuters/Carlos Barria

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BEIJING (Reuters) - Chinese sovereign wealth fund China Investment Corp (CIC) is in unspecified talks with Alibaba Group, the official People's Daily reported on Friday, citing deputy director of public relations and international cooperation for CIC Liu Fangyu.

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 around $2 billion 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, while CIC declined to comment.

(Reporting by Paul Carsten; Editing by Jonathan Standing and Ryan Woo)

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