Alibaba Group Holding Ltd. plans to take private its Hong Kong-listed Alibaba.com Ltd. in a U.S. $2.3 billion deal to shore up the e-commerce portal.
The Chinese company, which currently owns 73% of Alibaba.com, said Tuesday that the move would free it from “the pressures” of having a listed company.
The deal appears unrelated to a possible move to buy back Alibaba Group shares owned by Yahoo Inc.
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