Chinese authorities may nationalize Alibaba

The media has been discussing rumors that Alibaba owner, Jack Ma, has not spoken out publicly for several months.

Chinese authorities are considering nationalizing the largest internet retailer Alibaba Group, owned by billionaire Jack Ma. The International Business Times portal was the first to report this.

The information became actively discussed in the media amid rumors that Jack Ma did not appear in public for several months. The last time he was seen was in late October 2020. Specifically, the Alibaba owner missed Africa’s Business Heroes contest organized by his structures in early January. 

Concerns about the situation were expressed in the European Parliament. In particular, deputy head of the Free Democratic Party of Germany, Nicola Behr, noted that Jack Ma’s disappearance could be “a reason for serious alarm.” However, “the exact circumstances can only be guessed.” 

Earlier, the world’s media reported that Chinese authorities seek to increase their stake in the internet giant, which plays a significant role in its economy. In particular, Alibaba Group was targeted by a campaign to strengthen oversight of the tech sector. An antitrust investigation was initiated against the company. The Ant Group was required to focus on the payment service and adjust its business operations in other areas.

Photo credit: depositphotos.com.

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