Alibaba will sell Intime to a consortium led by Youngor Fashion and Intime's management.

Benzinga

New York

United States

Alibaba Stock Rises Marginally In Overnight Trading On Robinhood Despite $1.3 Billion Loss From Sale Of Chinese Retail Chain Intime - Alibaba Gr Hldgs (NYSE:BABA), PDD Holdings (NASDAQ:PDD)

The reported Intime sale is part of Alibaba’s broader efforts to restructure its business and refocus on its e-commerce and cloud businesses.

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South China Morning Post

Alibaba Group

Hong Kong

Exclusive | Alibaba to sell department store Intime to focus on core e-commerce, sources say

SHANGHAI -- Chinese e-commerce conglomerate Alibaba Group Holding on Tuesday said it will sell its stake in department store chain Intime to clothing

Nikkei

Nikkei, Inc.

Japan

Alibaba to sell Chinese department store chain, booking $1.3bn loss

Alibaba Group said on Tuesday it would sell its Chinese department store unit Intime and book a US$1.3 billion loss from the deal, as the retail giant reshuffles its business portfolio to focus on its core e-commerce operation.
© New Straits Times Press (M) Bhd

New Strait Times

Media Prima

Malaysia

Alibaba to sell China department store chain Intime for US$1.3bil loss

The e-commerce company says Intime will be sold to a consortium of purchasers comprising Youngor Group and Intime’s management team.

Free Malaysia Today News

Kuala Lumpur

Wilayah Persekutuan Kuala Lumpur

Alibaba sells department store arm at US$1.3bil loss

Beijing (AFP) Dec 17, 2024 
China's Alibaba said Tuesday that it had agreed to sell department store chain Intime at a $1.3 billion loss, as the tech giant trims down its operations with competition intensifying in the country's cutthroat e-commerce market. 
Alibaba said in a statement to the Hong Kong Stock Exchange that Intime would be sold to "a consortium of purchasers comprising Youngor Group and members of Intime'

Space Daily

Australia

China's Alibaba says to sell department store arm for $1.3 bn loss

China's Alibaba said Tuesday that it had agreed to sell department store chain Intime at a $1.3 billion loss, as the tech giant trims down its operations with competition intensifying in the country's cutthroat e-commerce market.

TechXplore

Alibaba (9988) said yesterday it would sell its Chinese department store unit Intime for 7.4 billion yuan (HK$7.89 billion) and book a US$1.3 billion loss (HK$10.14 billion) from the deal as the retail giant focuses on its core e-commerce operation.The buyers are a consortium of Youngor Fashion and...

The Standard

Alibaba takes US$1.3b Intime hit

China’s Alibaba said Tuesday that it had agreed to sell department store chain Intime at a $1.3 billion loss, as the tech giant trims down its operations with competition intensifying in the country’s cutthroat e-commerce market. Alibaba said in a statement to the Hong Kong Stock Exchange that Intime would be sold to “a consortium […] The post China’s Alibaba says to sell department store arm for $1.3 bn loss appeared first on Insider Paper.

Insider Paper

It is rumored that Alibaba (9988) plans to sell its shares in Intime Department Store to Youngor, a leader in the textile and apparel industry. In terms of stock price, Alibaba is temporarily reported at 83.9 yuan, down more than 2%. According to reports from domestic media, Alibaba is in contact with Intime to sell its shares in Intime to Youngor, and may make an announcement tomorrow (17th); people familiar with the matter also revealed that t…

市傳阿里巴巴（9988）計劃將持有的銀泰百貨股份出售予紡織服裝行業龍頭雅戈爾。股價方面，阿里暫報83.9元，跌逾2%。 據內媒引述消息報道，阿里正與銀泰接洽，將其銀泰股份售予雅戈爾，並可能於明日（17日）作出公布；有知情人士亦透露，目前雙方擬召開發布會，以公布相關收購事項。 阿里曾於2017年聯同銀泰創辦人以198億元私有化銀泰，但由於阿里近年聚焦主業，因而逐步剝離非核心資產。此外，今年2月已有消

Alibaba Stock Rises Marginally In Overnight Trading On Robinhood Despite $1.3 Billion Loss From Sale Of Chinese Retail Chain Intime - Alibaba Gr Hldgs (NYSE:BABA), PDD Holdings (NASDAQ:PDD)

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