Alibaba considers taking a stake in Tsinghua Unigroup

Reuters reported that Alibaba Group Holdings Co., Ltd. is considering bidding for shares in the cloud computing infrastructure company Ziguang Co., Ltd., citing people familiar with the matter, at a price tag of up to $7.7 billion.
According to the report, potential bidders include Wuxi Industrial Development Group Beijing Electronics Holdings and government-backed semiconductor investment fund Jianguang Assets.
According to the report, the chip company Ziguang Group Co., Ltd. has been seeking to divest 46.45% of its shares in Ziguang because the company faces more debt payments that are about to expire.

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