Investor Ryan Cohen buys Alibaba stake, pushes for more share buybacks

Investor Ryan Cohen buys Alibaba stake, pushes for more share buybacks

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Billionaire investor Ryan Cohen has built a stake in China’s Alibaba Group worth hundreds of millions of dollars and is pushing the e-commerce giant to increase and speed up share buybacks, people familiar with the matter said on Monday.

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