E-Commerce Giant Alibaba Sells Intime Luxury Store Chain At Big Loss
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Alibaba Group Holding is selling its stake in the Chinese department store chain Intime for $1 billion, resulting in a significant loss of 9.3 billion yuan. This move is part of Alibaba's strategy to refocus on its core e-commerce business.
December 17, 2024 | 7:30 am
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Alibaba is selling its stake in Intime for $1 billion, incurring a 9.3 billion yuan loss. This sale is part of a strategic shift back to focusing on e-commerce.
The sale of Intime at a significant loss indicates a strategic shift for Alibaba, which may concern investors about the company's financial health and decision-making. This could lead to a short-term negative impact on Alibaba's stock price.
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