Two months ago, Alibaba’s executives were pitching the company’s shares to investors as a way of gaining exposure to sister company Ant.
But when the ecommerce giant reported its second-quarter results on Thursday, it did its best to avoid discussing the fiasco of Ant’s suspended initial public offering.
Alibaba holds a roughly one-third stake in Ant after Jack Ma spun out the payments group in 2011, which at the planned offering price would have been worth about $105bn.
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