Benzinga

Why Did Alibaba Shares Fall Today?

State-owned Bauhinia Culture (Hong Kong) Holdings Ltd is eying to acquire Alibaba Group Holding Ltd’s (NYSE: BABA) owned South China Morning Post English-language newspaper, Bloomberg reports. Founded in 1903, SCMP was once one of the most profitable newspapers globally, boosted by a large classified job-advertisement section. Media mogul Rupert Murdoch acquired control of SCMP in 1986 before selling his stake to Malaysian tycoon Robert Kuok in 1993. SCMP changed hands again in 2015 when Alibaba