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DingTalk to split from Alibaba's cloud division - Reuters

Investing.com -- Alibaba Group's (HK:9988) DingTalk workplace collaboration tool will split from the tech conglomerate's cloud division, according to a Reuters report Wednesday citing two sources with knowledge of the situation.

The separation from Alibaba's (NYSE:BABA) Cloud Intelligence Group will see DingTalk operate as a wholly-owned subsidiary of Alibaba Holding Group, one of the sources told Reuters.

Reuters could not confirm the timing of the split, but one of its sources said DingTalk's services would not be impacted.

Meanwhile, Chinese media outlet Caixin also reported that DingTalk may also pursue its own listing in the near future.

DingTalk currently oversees around 200 million monthly active users, according to data from intelligence services provider QuestMobile cited by Caixin.

The reports come as Alibaba's cloud unit also prepares itself for a possible initial public offering. The division has already said it will be the first of Alibaba's six newly-minted entities to IPO, potentially as soon as May next year.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.