HONG KONG -- Alibaba Group Holding said the company will decide whether to retain control of individual businesses after they go public, the first indication since announcing its structural overhaul that the e-commerce conglomerate could give up control of one or more companies entirely.
Alibaba announced on Tuesday that it will split into six new businesses, with each unit independently operated and Alibaba as the largest shareholder. Under the plan, all units except Taobao Tmall Commerce Group, Alibaba's core source of revenue, will be able to seek external financing and pursue an initial public offering.
