China’s e-commerce leader on Monday raised a proposed stock repurchase program by $4 billion to $10 billion, effective for two years through the end of 2022. The People’s Daily -- the Communist Party mouthpiece -- ran a commentary over the weekend warning Alibaba’s peers to take the antitrust investigation into Alibaba as a chance to lift their own awareness of fair competition. “There is still very big selling pressure on firms like Alibaba, Tencent or Meituan. Ma, the flamboyant co-founder of Alibaba and Ant, has all but vanished from public view since Ant’s initial public offering got derailed last month. Investors remain divided over the extent to which Beijing will go after Alibaba and its compatriots as Beijing prepares to roll out the new anti-monopoly regulations.

Source: Hindustan Times December 28, 2020 05:22 UTC