Amid the continued rumors that Groupon may be a takeout target for eCommerce giant Alibaba, one outlet said the deal will not materialize. StreetInsider.com said that, “per a source,” unnamed in the article, the current 5.7 percent stake that the firm has in Groupon, at nearly 33 million shares, is pretty much the limit for Alibaba.
The deal rumors may have helped spike Groupon’s stock price, up low single-digit percentages into the end of the week.
As reported by PYMNTS, Alibaba Head Jack Ma met with President-Elect Donald Trump on Monday (Jan. 9) to discuss job creation in the U.S., with a reported commitment to 1 million new jobs here. Trump has also been critical towards Amazon, promising “problems” for that company based on tax structure. In other examples of foreign firms pledging to keep or create jobs in the U.S., Softbank has said it would create 50,000 jobs here.