Chinese e-commerce giant Alibaba Group will not change its partnership structure in order to meet listing regulations on the Hong Kong stock exchange, Reuters reported, citing a Wednesday statement by executive vice-chairman Joe Tsai. His comments were Alibaba’s strongest defense to date of its shareholder structure, which allows a group of top managers and founders to nominate and control the board, while holding only about 13% of the company’s shares. Hong Kong may lose what is potentially the biggest-ever IPO by an internet company unless it changes its listing rules.
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