Alibaba Group announced last week that it will sell the Chinese department store chain Intime to a local apparel group for $1 billion (about R18 billion).
The price is around 30% of the company's valuation when Alibaba bought it during the heady days of 2017. The internet giant said it will book a $1.3 billion loss on the transaction.
The deal came a day after BlackBerry said it would divest its Cylance endpoint security unit to software startup Arctic Wolf for $160 million plus a small amount of stock. That's a far cry from the $1.4 billion BlackBerry paid when it agreed to buy the business in 2018. Under BlackBerry's ownership, Cylance reported substantial losses and its revenue fell over 50%, according to Royal Bank of Canada analysts.
The moves show how companies that were major acquirers during the boom times may sober up and regret those purchases only a few years later.
هذه القصة مأخوذة من طبعة December 23, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 23, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Heritage rescheduled at Vaal
Strydom the jockey to follow on rest of the card.
Quitting on TV: good or bad?
Clinton Larsen became the second coach to quit live on television this season on Saturday.
Sharks make a move in the URC
The Sharks made their move up the United Rugby Championship (URC) table with a breathtaking derby win over the Bulls in Durban, while the Stormers returned to winning ways with a comfortable victory over the Lions in Cape Town.
PINK PROTEAS PLUCKED
ODI: KLAASEN HEROICS NOT ENOUGH AS PAKISTAN SECURE 3-0 WHITEWASH
Larsen quits after Cup loss
Magesi FC head coach Clinton Larsen announced his resignation live on television after his side were beaten 3-0 by the Carling All Stars in the Carling Cup on Saturday at Orlando Stadium.
Blue chips ditching ESG
LOANS: 'STILL COMMITTED TO GOVERNANCE'
Gold price surge eyed
BULLS: EXPECT PRECIOUS MINERAL TO HOVER ABOVE $3,000 NEXT YEAR
The Qwellers and SABC1 campaign collaboration
SABC1 alongside The Qwellers has launched an explosive summer campaign “Qwell It on a Summer Levol” for 2024-25, which features Ama Ice, an exclusive song by the eclectic modern hip hop collective hailing from Braamfontein.
Hey Neighbour festival returns next August
Building on its immense successful debut in 2023 featuring local and international trail-blazing headliners including Tyla, Kendrick Lamar, Zakes Bantwini, Swedish House Mafia, Khalid and H.E.R attracting over 60,000 music lovers, the ground-breaking global music and lifestyle festival, Hey Neighbour, will once again bring together global communities through an eclectic fusion of music, fashion and culture.
Water sport needs more attention, minister
Officials do nothing to generate funds for Aquatics, writes Carl van Loggerenberg.