China's Alibaba reports media blackmail attempt to police
BEIJING (Reuters) - Alibaba Group Holding Ltd, the Chinese e-commerce titan gearing up for a mammoth U.S. initial public offering, has reported a blackmail attempt by a media organization to police, the company said on its official microblog on Friday.
Alibaba said on its Weibo microblog that the media organization sought $300,000 to suppress a negative report about the company. Alibaba said the matter had been reported to police in Hangzhou, where the firm is based.
Alibaba's listing on the New York Stock Exchange could be one of the biggest initial public offerings ever. The company, founded by Jack Ma, is now looking at a September debut, a source told Reuters on Thursday.
(Reporting by Paul Carsten. Editing by David Clarke)
Trending On Reuters
Strategies for making the most of your donations - from how to grow the money you plan to give to how to withdraw it with minimal tax implications. Video