COMPANIES THAT SPENT billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices.
Alibaba Group Holding announced on Tuesday it's going to sell Chinese department-store chain Intime to a local apparel group for $1 billion. The price is around 30% of the company's valuation when Alibaba bought it during the heady days of 2017. The internet giant, which has largely abandoned its acquisitive ways amid government pressure, said it will book a $1.3 billion loss on the transaction.
Bu hikaye Financial Express Pune dergisinin December 20, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Pune dergisinin December 20, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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