Alibaba Upsizes Share Repurchase Program To $10 Bln

(RTTNews) - Alibaba Group Holding Limited (BABA) said that its board has authorized to upsize the company's share repurchase program to $10 billion from $6 billion. It will be effective for a two-year period through the end of 2022.

The company noted that it commenced the execution of its share repurchase program this quarter.

Meanwhile, Zhejiang Provincial Administration for Market Regulation reportedly said the antitrust probe into Alibaba Group has concluded. The company cooperated with the investigation team, and provided relevant information in a timely manner.

The Chinese Government agency on December 24 launched a probe into Alibaba Group for alleged monopoly behaviors and collected relevant evidences.