Tag: IT industry

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Alibaba I.P.O. Could Benefit Princelings (Updated)

In another report looking into the accumulated wealth of the families of China’s political elite, Michael Forsythe at the New York Times reports on how the upcoming Alibaba IPO may benefit so-called princelings: In September 2012, the Alibaba Group announced that it had completed a $7.6 billion deal to buy back half of Yahoo’s stake in it. The giant e-commerce company raised part of the money by selling shares to select investors, notably China’s sovereign wealth fund