China Power List: Alibaba in Transition
Alibaba Group Holding Ltd. has been a company in transition, from its monthslong dealings with Yahoo Inc. to the delisting of its once Hong Kong-traded Alibaba.com unit.
According to local media reports late last month, Alibaba is shifting yet again, this time to create seven major business groups. Meanwhile, other media reports said Alibaba was seeking billions in U.S. dollars of financing for a buyback of its shares from Yahoo, keeping Jack Ma in the headlines and making him top corporate newsmaker this month, according to data compiled by Dow Jones Insight and edited by The Wall Street Journal.
Want Want China Holdings Ltd. Chairman Tsai Eng-meng, No. 2 on the list, finally realized his goal of buying a majority stake in China Network Systems─provided, Taiwan regulators said, that he come up with a plan to make sure the broadcaster remains independent.
Baidu Inc. Chief Executive Robin Li earned the No. 3 spot through earnings, in which his company saw second-quarter profit grow 70% from a year earlier.
Source: The Wall Street Journal
This guy will 'crash and burn.'