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Alibaba co-founder to relinquish control of Ant Group

Jack Ma, co-founder of Chinese e-commerce giant Alibaba, is to give up control of of Ant Group, after a government crackdown on powerful companies and individuals. For the past two years there has been much talk of Mr Ma divesting his stake, with the Ant Group valued last year between 75 and 150 billion dollars before its IPO was halted. Ant...

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Business |TIMELINE Featured

Timeline: the rise and rise of Alibaba

This week was shaken by several news coming from Chinese e-commerce giant Alibaba. To start, the company’s founder and CEO, Jack Ma, announced his plans to retire in 2019. Daniel Zhang is set to be his successor. Today, Alibaba and Russian technology group Mail.ru said they would launch a joint e-commerce venture in Russia and former Soviet...

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