July 29, 2021

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Reuters exclusively reports Alibaba, others explore stake in cloud computing firm

Technology

Reuters reported exclusively that Alibaba Group Holding Ltd and Chinese state-backed firms are weighing bids for a stake in Unisplendour Corp, a cloud computing infrastructure firm, that could fetch as much as $7.7 billion. People familiar with the matter said chip conglomerate Tsinghua Unigroup, which is saddled with some $31 billion in debt, is looking to divest its 46.45% stake in Shenzhen-listed Unisplendour as more of its bond payments are coming due. 

Article Tags

Topics of Interest: Technology

Type: Reuters Best

Sectors: Technology

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story