Alibaba: NYSE, Nasdaq Approve Partnership Structure Proposal

The New York Stock Exchange and the Nasdaq Stock Market have each agreed to let Alibaba Group Holding’s founder and senior management team have control over the board of the Chinese e-commerce giant if it seeks to list its stock on the exchanges, Alibaba said.

The approvals mean fewer hurdles for a possible U.S. initial public offering by Alibaba. The deal, if it happens, could be the largest Internet IPO since Facebook Inc.’s market debut last year.

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