Summary of Alibaba Just Announced IT'S OVER

00:00:00 - 00:05:00

Alibaba has announced that Jack Ma will no longer have a controlling stake in the company, and that a new shareholding structure has been put in place. This should improve Alibaba's chances of completing its turnaround and returning to profitability. Alibaba has also announced that it will not be IPOing for another year.

• 00:00:00 Alibaba announced that Jack Ma has relinquished his controlling stake in the company, and that a new shareholding structure has been put in place. This new structure has Jack Ma reduced to a minority shareholder, and the company has added an independent fifth director. This change in control brings "Saga to an end" according to the announcement, and should improve Alibaba's chances of completing its overhaul and returning to profitability. This news has had little effect on the share price, which remained stable on Friday after the markets closed.
• 00:05:00 Alibaba announced that it has reached an agreement with the Chinese government to restructure its debt, and that it will not be IPOing for another year. This news likely positive for the company's stock price.