(Reuters) – Alibaba Group Holding Ltd’s cloud division is weighing a private round to raise funds from Chinese state-owned enterprises ahead of the business’ market debut in Hong Kong, Bloomberg News reported on Monday. The tech giant is working with advisers on a potential Cloud Intelligence Unit fundraising that could mop up about 10-20 billion yuan ($1.38-$2.75 billion), the report said, citing people with knowledge of the matter.
($1 = 7.2706 Chinese yuan renminbi)
(Reporting by Shivani Tanna in Bengaluru; Editing by Dhanya Ann Thoppil)
