Alibaba Arm To Invest $38M In Loss-Making Chinese Tour Operator Utour Group

Dec 10, 2021•over 3 years ago

Amount Raised

$38 Million

Beijing

Description

Chinese e-commerce giant Alibaba Group Holding Ltd is making a second equity investment in local tour operator UTour Group Co. Ltd., which is struggling with the impact of the Covid-19 pandemic, as Beijing heightens its scrutiny of mergers and acquisitions that may lead to a monopoly.

Alibaba Arm To Invest $38M In Loss-Making Chinese Tour Operator Utour Group

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Alibaba Arm To Invest $38M In Loss-Making Chinese Tour Operator Utour Group

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