Alibaba said Tuesday it will split its company into six business groups, each with the ability to raise outside funding and go public.
It is the most significant reorganization in the Chinese e-commerce giant’s history.
Alibaba said in a statement that the move is “designed to unlock shareholder value and foster market competitiveness.”
Alibaba’s shares popped more than 9% in pre-market trade in the U.S.
Shouldn't this be bad news? Why stock goes up?
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