E-commerce, Alibaba | featured news

A former manager at China’s largest e-commerce company, Alibaba Group, has been arrested by Chinese police under suspicion of accepting bribes from businesses owners, the company said Thursday.

Yahoo Inc could be weeks away from selling 15 to 25 percent of Alibaba Group's stock back to China's largest e-commerce company, in a deal designed to eliminate complexities that had scuttled the parties' previous negotiations, a person familiar with the matter said.

Chinese e-commerce giant Alibaba Group Holding Ltd. is aiming to handle one trillion yuan ($157 billion) of transactions in 2012 on its Taobao consumer sales platforms, the company's Chairman Jack Ma said Saturday.

Alibaba Group announced a major restructuring of its key Taobao unit, splitting the popular Chinese e-commerce platform into three separate companies focused on different market segments.