 "The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China")
Alibaba Group Holding Ltd. is seeking to sell its entire stake in a local television network after the Chinese government’s scrutiny over media and the technology industry intensified.
An Alibaba investment arm plans to sell its 5.01% stake in Mango Excellent Media Co., a TV shopping and entertainment network based in the central province of Hunan, Mango said in a filing late Thursday. The e-commerce giant, which made the purchase only nine months ago, is seeking a waiver from a one-year lock-up agreement, the filing showed.
An Alibaba representative couldn’t be immediately reached for comment.
Beijing wants billionaire Jack Ma’s firm to
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