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ALIBABA GROUP HOLDING

(BABA)
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Alibaba : Tsai buys rest of NBA's Brooklyn Nets

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08/16/2019 | 10:38am EDT
Alibaba's Tsai speaks at the WSJ Digital Conference in Laguna Beach

(Reuters) - Alibaba Group Holding Ltd co-founder Joseph Tsai is buying a 51% stake that he doesn't already own in NBA's Brooklyn Nets and its Barclays arena from Russian billionaire Mikhail Prokhorov, the U.S basketball team said on Friday.

Reuters had reported on Wednesday that the deal would value the NBA team at $2.35 billion. [nL4N25A575]

Tsai had acquired a 49% stake in the team from Prokhorov in April last year. [nFWN25B0ZM]

Brooklyn Nets has been trying to come out of the shadows of storied franchise and local rival New York Knicks, whose home turf is the hugely popular Madison Square Garden.

Nets signed former Most Valuable Player Kevin Durant, who led the Golden State Warriors to three consecutive NBA Finals, and fellow All Star Kyrie Irving this off-season.

(Reporting by Soundarya J and Arjun Panchadar in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.17% 177.07 Delayed Quote.29.18%
BARCLAYS PLC -2.00% 153.48 Delayed Quote.1.97%
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Financials (CNY)
Sales 2020 511 B
EBIT 2020 94 473 M
Net income 2020 88 201 M
Finance 2020 204 B
Yield 2020 -
P/E ratio 2020 38,5x
P/E ratio 2021 28,1x
EV / Sales2020 5,98x
EV / Sales2021 4,47x
Capitalization 3 257 B
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Technical analysis trends ALIBABA GROUP HOLDING
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 51
Average target price 1 557,21  CNY
Last Close Price 1 251,14  CNY
Spread / Highest target 57,4%
Spread / Average Target 24,5%
Spread / Lowest Target -11,0%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
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