When reports surfaced this week of an internal memo detailing yet another new restructuring at Alibaba Group Holding Ltd. (BABA.US, 9988.HK), investors cheered by bidding up the e-commerce giant’s shares by nearly 4% over the next few days. The move marked the latest dismantling of a breakup plan announced by the company two years ago, throwing it squarely into China’s growing “instant retail” wars that let consumers buy anything online and get it shipped to their homes within hours.
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