Alibaba May Sell Weibo Stake – 12/30/2021 at 2:35 PM


(AOF) – Alibaba is said to be in talks with the state-owned Shanghai Media Group to sell its 30% stake in Chinese social network Weibo. According to the Bloomberg agency, which revealed the information citing anonymous sources familiar with the matter, this operation would be part of Beijing’s policy to limit the influence of Chinese tech giants in the strategic field of the media. SMG is one of China’s largest public media and culture conglomerates. He is a controlling shareholder of Oriental Pearl and owns 20% of Shanghai Disney Resort.

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