Wealthy investors worldwide exited Alibaba after monopoly probe: Citigroup
A large number of wealthy investors from Europe, Middle East and Africa region cut or exited their holdings in Alibaba Group after China ordered an antitrust probe into the company in December, Bloomberg reported, citing Citigroup's private bank. The investigation was launched, following the suspension of Alibaba-affiliate Ant Group's $35-billion IPO, for suspected monopolistic practices.