Corporate-governance experts are raising concerns about various deals involving Alibaba Group Holding Ltd. founder Jack Ma, saying they blur personal and business interests, the Wall Street Journal reported Monday.
As Alibaba prepares for a mega initial public offering in the United States, Ma and his allies are coming under scrutiny for investing in a company on behalf of Alibaba through private vehicles. In other deals, a private-equity fund co-founded by Ma invested alongside Alibaba, the report said.
Ma has told US securities regulators that he sometimes invests on behalf of the company, and will limit his personal gains in some cases, it said.
But governance experts warn that Alibaba shareholders have little control or oversight over such deals.
Alibaba declined to comment, citing its pending IPO.
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