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Market Chatter: Alibaba to Sell Lingxi Games for at Least $1.5 Billion

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Alibaba Group (BABA) has reached a deal to sell Lingxi Games for at least $1.5 billion to Trustar Capital, a private equity fund affiliated with China International Trust and Investment Corporation, Nikkei Asia reported Tuesday, citing Bloomberg.

This deal comes as top Chinese technology companies restructure their video game and retail operations to focus more on artificial intelligence, according to the report.

Alibaba did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $127.46, Change: $+2.75, Percent Change: +2.21%

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