Deals
Alibaba Exploring Options for Weibo Stake With State Firm
- Technology giant in discussions with Shanghai Media Group
- Chinese authorities want Alibaba to sell its media assets
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Alibaba Group Holding Ltd. is in talks with a state-owned conglomerate about a potential deal involving its stake in Weibo Corp., as Beijing moves to curb the influence of China’s tech giants in the sensitive media sphere.
China’s e-commerce leader is exploring options for its roughly 30% slice of the Twitter-like social media service, according to people familiar with the matter. The discussions between the technology giant and Shanghai Media Group could lead to the latter purchasing all of Alibaba’s stake in Weibo, the people said, asking not to be identified as the information is private.