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Jack Ma, right, Chairman of Alibaba Group, and Xu Jiayin, Chairman of Evergrande Group, shake hands at the listing ceremony for shares of Guangzhou Evergrande Taobao Football Club in Beijing, November 6, 2015. [Photo/IC] |
Since its IPO, it has been on something of a spending spree. It has acquired many businesses away from its Internet core, moving into finance, entertainment, big data, logistics and healthcare.
It even bought a 50 percent stake in the Chinese football club Guangzhou Evergrande in 2014.
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