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Alibaba said it will continue selling down some of its outside investments to raise cash, as the tech giant kicks off a restructuring of its business empire.
The restructuring will split the group into six main business units controlled by an Alibaba holding group, allowing each unit to bring in outside capital and someday list on their own. Alibaba may fully exit the businesses after their market debut, the group said Thursday.
“After going public we will continue to evaluate the strategic importance of these companies to Alibaba and on that basis we will decide whether or not to continue to retain control,” said chief financial officer Toby Xu.
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