Celina Jade
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Celina Jade in Markets at a glance,

Alibaba fights back against negative magazine story

The influential investing magazine Barron's has an unflattering story about Chinese e-commerce giant Alibaba on the cover of its latest issue. And Alibaba is not happy about it.

Alibaba (BABA, Tech30) wrote a rebuttal to the story -- which has the headline "Alibaba: Why It Could Fall 50% Further" -- and urged the publication to print a correction.


Alibaba, in a letter to Barron's editor Edwin Finn, cited what it felt was a "lack of integrity, professionalism and fairness" by the author of the piece, Jonathan Laing.

Specifically, Alibaba felt it was unfair for Laing to compare Alibaba's valuation to eBay (EBAY) since eBay is not in China. It also questioned Laing's assertion that competitors were "eating into the market share" of Alibaba.

In addition, Alibaba defended its financial reporting standards about its user statistics, its corporate governance and its efforts to crack down on counterfeit goods on its Taobao and Tmall marketplaces.

Finn and Laing were not immediately available for comment about Alibaba's letter.

http://money.cnn.com/2015/09/14/investing/alibaba-response-b...