{"id":2021232,"date":"2023-09-04T07:45:02","date_gmt":"2023-09-04T11:45:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/alibabas-cloud-division-eyes-state-firms-for-up-to-3-billion-fundraising-bloomberg-news\/"},"modified":"2023-09-04T07:48:23","modified_gmt":"2023-09-04T11:48:23","slug":"alibabas-cloud-division-eyes-state-firms-for-up-to-3-billion-fundraising-bloomberg-news","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/alibabas-cloud-division-eyes-state-firms-for-up-to-3-billion-fundraising-bloomberg-news\/","title":{"rendered":"Alibaba&#8217;s cloud unit seeks $3 billion from state firms &#8211; Bloomberg News."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Falibabas-cloud-division-eyes-state-firms-for-up-to-3-billion-fundraising-bloomberg-news%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2021232&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) &#8211; Alibaba\u2062 Group Holding Ltd\u2019s cloud division is considering <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-president-trump-gives-pardons-to-73-individuals-and-commutes-another-70-sentences-steve-bannon-is-included\/\" title=\"BREAKING: President Trump Gives Pardons to 73 Individuals and Commutes Another 70 Sentences \u2013 Steve Bannon Is Included\">raising funds<\/a> \u200dthrough a\u2064 private round from Chinese state-owned enterprises before \u2063its market debut \u2062in Hong \u200dKong, according to Bloomberg News.<\/p>\n<p>The tech giant&#8217;s \u2062Cloud Intelligence unit is working with advisers on a \u2062potential fundraise that could amount to 10-20 billion yuan ($1.38-$2.75 billion), sources familiar\u200d with the matter said.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Potential investors include state-backed telecommunication companies, \u200dthe report added. However,\u2064 discussions are in the early stages and details such as the size and timing of the financing could change.<\/p>\n<p>Alibaba \u200chas not yet responded to Reuters&#8217;\u200b request for comment.<\/p>\n<p>Earlier this year, Alibaba\u200d announced plans to restructure into six units following a regulatory crackdown on China&#8217;s tech sector. \u2063As part of this, it approved a full spinoff of the Cloud Intelligence Group through a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/alibabas-cloud-division-eyes-state-firms-for-up-to-3-billion-fundraising-bloomberg-news\/\" title=\"Alibaba's cloud unit seeks  billion from state firms - Bloomberg News.\">stock dividend distribution<\/a> to shareholders, with the aim of completing a public listing within the next 12 months.<\/p>\n<p>In July, Ant Group, which was spun off from Alibaba 12 years ago, surprised the market with a share buyback, valuing the fintech giant at $78.54\u2062 billion. This valuation was significantly lower than the $315 billion previously anticipated in an abandoned public listing in 2020.<\/p>\n<p>($1 = 7.2706 Chinese yuan renminbi)<\/p>\n<p>  (Reporting by Shivani Tanna \u200din Bengaluru; Editing by Dhanya Ann Thoppil and Janane Venkatraman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/alibabas-cloud-division-eyes\/attachment\/illustration-shows-alibaba-cloud-service-logo\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This\u200c week has been filled with major headlines in the U.S and around the \u2064world<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Mark \u2064Mix of the \u200dNational Right to Work Legal Defense Foundation says \u200chis organization is fighting Big Labor\u2019s Pro Act in Congress.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Heritage Foundation\u2019s Brent Sadler says the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/friday-afternoon-update-soros-da-resigns-bud-light-tries-to-distance-itself-from-dylan-mulvaney-banking-worries-rise\/\" title=\"Soros' DA steps down, Bud Light disassociates from Dylan Mulvaney, banking concerns increase.\">recent drone attacks<\/a> on Russian soil may be intended\u200c to provoke a negotiated solution with Russia<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Joe Biden celebrates the\u200b US Jobs Report, hides Hunter\u2019s job reports and delivered some <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cnn-covers-up-war-crimes-committed-by-syrian-white-helmets-ignores-oans-on-the-ground-reporting-2\/\" title=\"CNN ignores OAN's on-ground reporting, conceals Syrian White Helmets' war crimes.\">nice gas prices<\/a> just in time for Labor\u2064 Day Weekend.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -Alibaba Group Holding Ltd\u2019s cloud\u2063 division is weighing raising funds via\u2064 a private round from Chinese state-owned enterprises ahead of the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) \u2013 Britain set out its objectives \u200cfor its global artificial intelligence (AI) safety summit on Monday, focusing on understanding the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BENGALURU (Reuters) \u2013 Indian fintech firm \u2064Paytm on\u2064 Monday launched \u200ca \u2018soundbox\u2019 device that lets merchants accept both mobile and card \u2064payments\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Victoria Waldersee MUNICH (Reuters) -CATL will \u2064produce its upcoming fast-charging Shenxing battery at its plants in Germany and Hungary alongside China,\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alibaba&#8217;s cloud division is considering a private funding round with Chinese state-owned enterprises before its Hong Kong market debut. The company is collaborating with advisors to potentially raise funds for its Cloud Intelligence unit, aiming to secure around 10-20% of the required amount. (55 words)<\/p>\n","protected":false},"author":66,"featured_media":2021233,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2021232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2021232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2021232"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2021232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2021233"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2021232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2021232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2021232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}