Alibaba PR boss pens 1900-word response to 'inaccurate' Barron's story

Firm objected to the article - which suggested its shares could plunge by 50 per cent - in a letter to the magazine's editor, written by Jim Wilkinson, senior vice president, International Corporate Affairs

Alibaba has come out fighting after Barron's cover story on Friday
Alibaba has come out fighting after Barron's cover story on Friday

Chinese e-commerce giant Alibaba has penned a close-to-2000-word response to Barron's, after the investor magazine suggested its stock could fall by a further 50 per cent.

The article came after the company's shares fell below last year's $68 float place. AT $25bn, Alibaba's public offering was the world's largest.

There has been a steady stream of articles in recent weeks casting doubts on the firm's financial performance, but it appears that the Barron's story has prompted it to come out fighting.

The response to the magazine was penned by Jim Wilkinson, Alibaba's senior vice president, International Corporate Affairs.

Sent as a letter to Barron's editor and president Edwin Finn, Wilkinson hits out at suggestions the stock price will substantially drop, that competitors are eating away at its margins, criticism of its financial and operating metrics, and allegations around its diversification into other industries.

"Your September 12 article with the sensational headline "Alibaba: Why It Could Fall 50% Further" lacks three key ingredients – integrity, professionalism and fair play," wrote Wilkinson.

"We take strong issue with the reporting about the state of our company, and we feel compelled to set the record straight. Jonathan Laing’s story contains factual inaccuracies and selective use of information, and the conclusions he draws are misleading. Set forth below are some specific examples of these errors."

Wilkinson then sets out his objections in detail - the full text can be read here - before concluding: "The facts above provide a clear and compelling case for the lack of integrity, professionalism and fairness of Mr. Laing’s reporting. We urge you to issue a correction and we stand ready to discuss this with you at any time."

Barron's had not issued a response at the time of publication.

Your September 12 article with the sensational headline "Alibaba: Why It Could Fall 50% Further" lacks three key ingredients – integrity, professionalism and fair play.  We take strong issue with the reporting about the state of our company, and we feel compelled to set the record straight.  Jonathan Laing’s story contains factual inaccuracies and selective use of information, and the conclusions he draws are misleading.  Set forth below are some specific examples of these errors. - See more at: http://www.alizila.com/alibaba-responds-barrons-story#sthash.HTfSUZut.dpuf

Edwin Finn
Editor and President
Barron’s
Edwin Finn
Editor and President
Barron’s
Edwin Finn
Editor and President
Barron’s

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