Reuters
Exclusive-Alibaba, others explore bids for Unisplendour stake worth up to $7.7 billion -sources
HONG KONG/SHANGHAI (Reuters) -Alibaba Group Holding Ltd and Chinese state-backed firms are weighing bids for a stake in Unisplendour Corp, a cloud computing infrastructure firm, that could fetch as much as $7.7 billion, people familiar with the matter said. Chip conglomerate Tsinghua Unigroup, which is saddled with some $31 billion in debt, is looking to divest its 46.45% stake in Shenzhen-listed Unisplendour as more of its bond payments are coming due, they said. Potential suitors include Wuxi Industry Development Group, a firm owned by the government of the eastern Chinese city of Wuxi, Beijing government-owned Beijing Electronics Holdings and state-backed semiconductor investment fund JAC Capital, said the people.
