Alibaba, State Firms Eyeing Unisplendour Stake, Reuters Says
- The stake could reportedly fetch as much as $7.7 billion
- Unigroup harbored aspirations to become a global chip giant
The Unisplendour Corp stand during the Mobile World Congress (MWC) Shanghai 2019.
Photographer: VCG/Visual China Group via Getty Images
Alibaba Group Holding Ltd. and several Chinese state-backed firms are weighing bids for a stake in cloud computing firm Unisplendour Corp. that could fetch as much as $7.7 billion, Reuters reported, citing people familiar with the matter.
Tsinghua Unigroup Co., one of the biggest Chinese defaulters of 2020, is seeking to sell its 46.45% stake in the company to cover bond payments coming due, Reuters reported. The list of potential suitors include Wuxi Industry Development Group, a firm owned by the government of the eastern Chinese city, Beijing Electronics Holdings and semiconductor investment fund JAC Capital, Reuters said, citing the people.