BREAKING NEWS

BREAKING NEWS

Foxconn Ventures sells $398.4 million in Alibaba stock: sources

Foxconn Ventures sells $398.4 million in Alibaba stock: sources
The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China July 20, 2018. REUTERS/Aly Song -
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ALY SONG(Reuters)
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(Reuters) - Foxconn Ventures Holdco has sold $398.4 million (£302 million) worth of Alibaba Group Holding Ltd's shares, in a block trade in the open market managed by Goldman Sachs Group Inc, people familiar with the matter said on Wednesday.

Foxconn sold 2.2 million Alibaba shares on Wednesday at $181.10 per share, the sources said, asking not to be identified ahead of any official announcement.

Foxconn and Goldman Sachs did not immediately respond to requests for comment.

(Reporting by Joshua Franklin in New York; Editing by Chizu Nomiyama)

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