BEIJING Alibaba Group Holding Ltd, the Chinese e-commerce titan gearing up for a mammoth U.S. initial public offering, has reported a blackmail attempt by a media organisation to police, the company said on its official microblog on Friday.
Alibaba said on its Weibo microblog that the media organisation sought $300,000 to suppress a negative report about the company. Alibaba said the matter had been reported to police in Hangzhou, where the firm is based.
Alibaba's listing on the New York Stock Exchange could be one of the biggest initial public offerings ever. The company, founded by Jack Ma, is now looking at a September debut, a source told Reuters on Thursday.
(Reporting by Paul Carsten. Editing by David Clarke)
Trending On Reuters
Avago Technologies Ltd agreed on Thursday to buy Broadcom Corp for $37 billion in the largest merger of chipmakers ever, turning a lesser known company run by a ferocious dealmaker into one of the biggest industry players. Full Article | Related Story
FIFA brothers scrambled to deposit cash hoard at U.S. banks, U.S. court documents show. Full Article