It appears to be a long road to return to the good books of Chinese Regulators for Jack Ma as the Chinese government have now asked Alibaba Group Holding to dispose of some of its media assets in the wake of its ever-growing prominence.
Sources claim that Chinese regulators were dismayed over the list of assets owned by the conglomerate whose mainstay is online retail. they have now requested that the company come up with plans to cut is media holdings but have not disclosed how.
Alibaba has a range of impressive investments in media including print, broadcast and digital, social media and advertising. The organization also holds sharesin Weibo as well as the South China Morning Post and has shares in U.S Listed companies as well
Tragedy struck for Jack Ma after he openly criticized Chinese regulators on how some policies stifle innovation. An action that didn’t sit too well in top political circles and policymakers. The first to bear the brunt was Ant Financial which was scheduled to go public days away from a renewed scrutiny on the company. Jack Ma went under the radar for quite some time afterwards but resurfaced recently.
It doesn’t end there, ever since Chinese regulators have disclosed plans to tighten the noose on technology-based companies, all of Alibaba’s ventures have become the object of attention for regulators. From all his travails, Jack Ma dropped to the 4th spot as one of the richest people in China from a lofty number one.
[…] All his investments have since then received multiple lashings with the regulators pressing for Ma to divest some of his investments. […]
Comments are closed.