Alibaba to restructure as six separate companies

Alibaba Group is planning to split into six units, the company told Reuters. The different entities will seek fundraisings and market listings as China eases its crackdown on private enterprises.

The big restructuring will see the company split into six organizations – Cloud Intelligence Group (cloud solutions), Taobao Tmall Commerce Group (local online commerce services), Local Services Group (delivery services), Cainiao Smart Logistics Group (logistics), Global Digital Commerce Group (AliExpress) and Digital Media and Entertainment Group (gaming, motion pictures and web…