buyback comes as the e-commerce firm's shares languish at
$66.91, more than a dollar off their IPO price of $68, and as it
struggles with slowing growth and a gloomy outlook for the
Sina News reported that Ma and Tsai had signed an agreement to
use their private funds to repurchase shares worth $500 million.
An Alibaba spokesman confirmed the news but declined to give
In August, Alibaba announced the $4 billion share repurchase
program which would take place over two years and was aimed at
offsetting the impact of its share-based compensation programs.
(Reporting by John Ruwitch; Editing by Miral Fahmy)
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