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Alibaba considers sale of consumer assets including Freshippo, RT-Mart - Stock Market Latest

Business & FinanceTechnology

Reuters was first to report that Chinese internet giant Alibaba Group (9988.HK),  is looking to sell a number of consumer sector assets, including grocery business Freshippo and retailer RT-Mart. 

Market Impact

Alibaba invested $3.6 billion in 2020 to acquire a controlling stake in hypermarket operator Sun Art Retail Group Ltd (6808.HK), which runs RT-Mart, after buying a 21% stake in the company three years earlier.

Article Tags

Topics of Interest: Business & FinanceTechnology

Type: Reuters Best

Sectors: Business & FinanceTechnology

Regions: Asia

Countries: China

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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