Alibaba to divest 5% stake in Chinese broadcaster Mango Excellent Media

Alibaba to divest 5% stake in Chinese broadcaster Mango Excellent Media

People walk by the Alibaba Group logo. Photo: Bloomberg

An investment arm of Chinese e-commerce giant Alibaba Group Holding Ltd, targeted in a regulatory crackdown, will divest its entire stake of 5.01% in broadcaster Mango Excellent Media Co Ltd, the media firm said.