(Bloomberg) — Alibaba Group Holding Ltd. ramped up its share buyback program to $25 billion, expanding that arsenal for a second time in less than a year to stanch a $470 billion loss of value during Beijing’s internet crackdown.
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The board of China’s e-commerce leader has approved the program, which will run for two years through to March 2024, the company said in a statement. It also appointed a new independent director in Shan Weijian, chairman of alternative…
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