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George Soros Sells Alibaba Shares

By noreply@blogger.com (InfoseekChina)

(CRI) It’s being reported that billionaire George Soros’ fund has sold off most of it stake in Chinese e-commerce giant Alibaba.

Soros Fund Management sold off around 4.3 million Alibaba shares during the 2nd quarter.

It now holds just 60-thousand shares worth about 4.9 million U.S. dollars, down from the 370 million U.S. dollars worth of shares it had at the end of the first quarter.

The Soros Fund has also sold over 358-thousand shares in Chinese search engine Baidu.

The Soros fund controls over 30 billion U.S. dollars in investments.

Alibaba’s share price hit historic highs in November, two months after its initial public offering in New York.

The company has since lost 37 percent of its value.

Source: CRI

Source:: George Soros Sells Alibaba Shares

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