HK regulator says Alibaba broke takeover rules with 'special deal'

By Elzio Barreto HONG KONG (Reuters) - Hong Kong's securities regulator said 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 on "favourable terms." Alibaba agreed to buy a stake in CITIC 21CN, now known as Alibaba Health Information Technology Ltd , for $170 million two years ago. During the acquisition process, Alibaba also agr