Alibaba to decide on control over new business units after IPOs, says CEO

Alibaba to decide on control over new business units after IPOs, says CEO

FILE PHOTO: Alibaba Group CEO Daniel Zhang (Zhang Yong) speaks at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song

Alibaba Group’s breakup into separate companies will allow its business units to become more agile and eventually list on their own, the tech conglomerate’s chief executive Daniel Zhang said on Thursday.