Jack Ma, founder and executive chairman of Alibaba Group Holding Ltd, is in talks to buy a stake in the publisher of Hong Kong's South China Morning Post (SCMP), Bloomberg reported on Monday citing unidentified sources familiar with the matter.
The discussions were at an advanced stage and a signing ceremony would be announced soon, Bloomberg said. It did not give the size of the stake, financial details or mention how Ma, who controls various investment vehicles, would invest.
Alibaba and SCMP declined to comment.
There has been speculation this month that Ma or his e-commerce juggernaut Alibaba were in talks to take a stake in the newspaper's parent SCMP Group Ltd. The China Daily newspaper reported rumors of the investment on Nov. 9.
The investment would add to Alibaba and its affiliates' growing media empire, the latest in a string of deals in news and advertising.