Alibaba seeks stake in insurer New China Life

0 Comment(s)Print E-mail CRI, January 23, 2015
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China's Alibaba Group Holding Ltd, the world's biggest e-commerce company, is reportedly planning to buy shares in the state-run New China Life Insurance Co Ltd from the its biggest shareholder Central Huijin Investment Ltd.

Central Huijin Investment Ltd is a Chinese investment company owned by the government of the People's Republic of China currently owns 31.34 percent of the insurer from New China Life Insurance.

New China Life Insurance asked for a trading suspension on Jan. 19, saying it was in the midst of negotiations that would affect its shareholding structure.

There have been guesses on this trading suspension.

An Alibaba spokeswoman declined to comment on what she called market speculation.

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