Exclusive: Alibaba, China Mobile weigh $443 mln investment in blacklisted Dahua – sources
By Editor - Wed Sep 16, 3:21 am
Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said. Dahua, China’s second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua – which has a market capitalisation of $10.3 billion – via a private share placement in coming weeks, the people said.