Business Bites: Alibaba in bid to go private again
Independent shareholders have voted to privatise Alibaba.com, one of China's biggest e-commerce websites, and remove its shares from the Hong Kong Stock Exchange.
They will sell their stakes to parent company Alibaba Group for the same price they bought them five years ago in a deal worth around $2.5bn (£1.5bn; 2bn euros).
The bid to make the firm private comes at a time when some of the world's biggest internet companies such as Facebook are being floated on the stock market.
The BBC's Aaron Heslehurst discusses one of the key financial story of the day.
25 May 2012
- From the section Business