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亚马逊云账号(www.2km.me)_Alibaba-led group nears US$8bil Unigroup takeover

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The Chinese central government is leaning towards the Alibaba-led offer given the e-commerce giant’s financial heft and the potential synergies with its own cloud and semiconductor business, sources said.

BEIJING: A consortium led by Alibaba Group Holding Ltd, has emerged as the frontrunner to take over Tsinghua Unigroup Co, a deal that could fetch more than 50 billion yuan (US$7.8bil or RM32.69bil) to help keep China’s indebted chip champion afloat.

The Chinese central government is leaning towards the Alibaba-led offer given the e-commerce giant’s financial heft and the potential synergies with its own cloud and semiconductor business, sources said.

The consortium, which includes funds backed by the Zhejiang government, is edging out several competitors for Beijing-based Unigroup, sources said.

A successful deal could help avert one of China’s biggest potential corporate failures, while securing for Alibaba valuable chip know-how and a supply of semiconductors to fuel the country’s largest cloud computing platform.

While the transaction is expected to be completed as soon as December, negotiations are ongoing and details on timeline, deal size and a final buyer could still change, the sources said.

Billionaire Jack Ma’s empire is mostly known for its e-commerce leadership, but the Hangzhou-based firm he co-founded has in recent years made enormous headway into computing and last month unveiled one of the country’s most advanced chips.

A deal could help Alibaba score points with Beijing, which punished the e-commerce giant for monopolistic behaviour but also wants to reduce its reliance on the United States for chips that power everything from phones to cars.

Any deal is likely to include conditions for restructuring Unigroup’s roughly 100 billion yuan-plus (RM65.38bil) of onshore and offshore debt, a source said.

Alibaba representatives had no immediate comment, while a Unigroup spokesperson didn’t immediately respond to requests for comment. Representatives for Zhejiang, the province that includes Alibaba’s headquarters in Hangzhou, didn’t immediately respond to an emailed inquiry. The State Council Information Office also didn’t respond to a fax requesting comment.

Aside from the Alibaba-led consortium, several state-backed companies including semiconductor investment fund JAC Capital, Wuxi Industry Development Group, and Beijing Electronics Holdings also weighed bids, the sources said.

Investors are placing wagers on a better deal for Unigroup as Xi Jinping advances a self-sufficiency agenda in key technologies in a strategic race with the United States.

Three out of the four dollar bonds sold by the firm have hovered around their highest levels – albeit still distressed – since at least early November, after their best month-ever in June.

The Beijing-based company affiliated with prestigious Tsinghua University – Xi’s alma mater – remains a linchpin in a race for technological supremacy with the US.

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