Shares in SoftBank Group Corp soared on Wednesday after Chinese e-commerce conglomerate Alibaba Group , in which the Japanese technology investor has a 13.7 % stake, announced a major restructuring plan.
, in which the Japanese technology investor has a 13.7 % stake, announced a major restructuring plan.gain in five months. Alibaba shares were up 13.2%.
SBI Securities analyst Shinji Moriyuki said the split-up would probably prevent Chinese government scrutiny of any of Alibaba's operations from affecting the rest of the group. "Investors took heart from sense of uncertainty over Alibaba having been eased a little ... there was a certain discount to SoftBank's stake given the unclear direction of China's internet sector," Moriyuki said.
Alibaba itself would re-organise into a holding company structure, with Daniel Zhang retaining his position as group CEO, and with separate CEOs and boards for each of the six sub-divisions.
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