BRIEF-Alibaba Group Sells Intime-February 2024-www.financetom.com

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BRIEF-Alibaba Group Sells Intime

Dec 16, 2024 8:43 PM

Dec 17 (Reuters) - Alibaba Group ( BABA ):

* Alibaba Group Sells Intime

* EXPECTED GROSS PROCEEDS TO ALIBABA FROM INTIME SALE IS

APPROXIMATELY RMB7.4 BILLION

* ALIBABA EXPECTS TO RECORD LOSSES OF APPROXIMATELY RMB9.3

BILLION

(US$1.3 BILLION) AS A RESULT OF SALE OF INTIME

* ALIBABA EXPECTS TO RECORD LOSSES OF APPROXIMATELY RMB9.3

BILLION

AS A RESULT OF SALE OF INTIME

* TO SELL 100% OF STAKE IN INTIME TO CONSORTIUM OF

PURCHASERS

COMPRISING YOUNGOR GROUP & MEMBERS OF INTIME'S MANAGEMENT TEAM

Further company coverage:

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