Jack Ma, founder of Alibaba Group Holding, is in talks to buy a stake in the publisher of Hong Kong English-language newspaper South China Morning Post, Bloomberg reported, citing unnamed sources. Discussions were apparently at an advanced stage, with a signing ceremony to be announced soon. It was not clear what the financial details of the deal were; SCMP Group has posted three consecutive years of profit declines. The SCMP and Alibaba declined to comment. When asked whether he was interested in buying the 112-year-old newspaper, Ma said in an interview this month that he was “watching a lot of companies right now.”
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