Alibaba will consider ceding control of some of its businesses if they opt to list as part of a break-up into six semi-autonomous units, top executives said as the Chinese tech group maps out its biggest restructuring in years.“After going public, we will continue to evaluate the strategic importance of these companies to Alibaba and, on that basis, we will decide whether or not to continue to retain control,” said chief financial officer Toby Xu during an investor call on Thursday.
The group on Tuesday announced an overhaul that would split it into six business units, with their own chief executives and controlled by a holding company. Each unit would be allowed to bring in outside capital and eventually pursue their own initial public offerings.
Chief executive Daniel Zhang said that while the split mirrored the lines of its existing business groups, the relationship between Alibaba and its units would change.