January 19, 2017 / 12:04 PM / in a year

Alibaba not interested in acquisitions, more interested in partnerships

DAVOS, Switzerland (Reuters) - China’s Alibaba is not interested in acquisitions this year as it is in partnerships, Alibaba Executive Chairman Jack Ma said on Thursday.

Alibaba executive chairman Jack Ma, attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 18, 2017. REUTERS/Ruben Sprich

“I am not interested in acquisitions. I am more interested in partnerships,” Ma said at a news conference on Alibaba’s Olympic sponsorship deal, when he asked about his company’s plans for the year. “We want to look for partners and empower them to be powerful,” he said.

(This version of the story corrects word in lead to ‘not’)

Reporting by Karolos Grohmann, editing by Larry King

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