Alibaba reportedly seeks sale of gaming unit Lingxi Games, valuation starts at $1.03 billion

Alibaba Group is planning to sell its gaming unit Lingxi Games, according to people familiar with the matter. Alibaba has approached at least five potential buyers, including Chinese game developers 37 Interactive Entertainment, China Ruyi, Century Huatong and Giant Network, as well as two private equity firms, the sources said. The business is being marketed at between seven billion yuan ($1.03 billion) and nine billion yuan ($1.33 billion).