Reuters reveals Alibaba, China Mobile considering investing in blacklisted firm

Reuters reported exclusively that Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd. Reuters sources said that Alibaba and China Mobile plan to jointly invest in Shenzhen-listed Dahua – which has a market capitalization of $10.3 billion – via a private share placement in coming weeks. Dahua, China’s second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.