HK regulator says Alibaba broke takeover rules with “special deal”

Hong KongChannel News Asia — HONG KONG: Hong Kong’s securities regulator said that Chinese e-commerce giant Alibaba Group Holding Ltd breached takeover rules in the purchase of a healthcare firm in 2014 because it also bought a company owned by the brother of the healthcare firm’s vice chairman on “favourable terms.” Alibaba agreed to buy a stake in CITIC 21CN, now known as Alibaba Health Information Technology Ltd, for US$170 million two years ago.

http://www.channelnewsasia.com/news/technology/hk-regulator-says-alibaba/2796298.html

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