HK regulator says Alibaba broke takeover rules due to 'special deal'

Hong Kong's securities regulator said on Wednesday that Chinese e-commerce giant Alibaba Group Holding Ltd breached takeover rules in the purchase of a healthcare firm in 2014 because it also bought a company owned by the brother of the healthcare firm's vice chairman at "favourable terms". Alibaba agreed to buy CITIC 21CN, now known as Alibaba Health Information Technology Ltd , for $170 million at the time. During the acquisition process, Alibaba also agreed to buy Hebei Huiyan Medical Technol