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China s Didi Crackdown Is All About Controlling Big Data
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Elon Musk s Battery Partner in China Is Now Richer Than Jack Ma
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HONG KONG (Reuters) -Nasdaq-listed Weibo Corp’s chairman and a Chinese state investor plan to take China’s answer to Twitter private, sources told Reuters, sending its shares as much as 50% higher on Tuesday.
The booth of Sina Weibo is pictured at the Beijing International Cultural and Creative Industry Expo, in Beijing, China May 29, 2019. REUTERS/Stringer/Files
A deal could value Weibo at more than $20 billion, facilitate shareholder Alibaba’s exit and see Weibo eventually relist in China to capitalise on higher valuations, the sources said.
Chairman Charles Chao’s holding company New Wave, Weibo’s top stakeholder, is teaming up with a Shanghai-based state company to form a consortium for the deal, three sources said, without disclosing the state firm’s identity.
Following Didi app ban, China cracks down on companies seeking US IPOs
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A crackdown by the Chinese government on companies that choose to go public in the U.S. may put the initial public offerings of dozens of Chinese companies at risk
The suggestion, according to Bloomberg, comes after the Cyberspace Administration of China banned the Didi Chuxing app from app stores in mainland China. Didi Global Inc. was listed on the New York Stock Exchange on June 30 in the biggest float of a Chinese company since Alibaba Group Holding Ltd. in 2014 and the Chinese Communist Party did not approve.
Down $831 Billion, China Tech Firm Selloff May Be Far From Over
Jeanny Yu and Abhishek Vishnoi, Bloomberg News Pedestrians wearing protective masks walk through Pudong s Lujiazui Financial District in Shanghai, China, on Thursday, Feb. 18, 2021. China s stock benchmark erased gains after briefly surpassing its 2007 closing peak, as mainland financial markets opened for the first time following the Lunar New Year break. Photographer: Qilai Shen/Bloomberg , Bloomberg
(Bloomberg) Chinaâs technology giants have wiped out a combined $831 billion since their February peaks, and Beijingâs expanding crackdown on the sector is fueling investor concern that the selloff is far from over.
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