China Is Breaking Up Alipay: Time to Sell Alibaba?
On Monday, Sep. 13, Chinese officials unveiled yet another in a series of crackdowns on e-commerce, fintech, and cloud leader Alibaba (NYSE: BABA). One year ago, Alibaba was the starting point for the regulatory crackdown on Chinese tech giants, when regulators canceled the IPO of Alibaba financial subsidiary Alipay following inflammatory comments by founder Jack Ma.
Nearly one year later, Beijing returned to the subject of Alipay, with a new plan for the fintech giant. It will involve a breakup, bringing in the government as an investor, and turning over proprietary data.
Image source: Getty Images.
Source Fool.com
