Chinese e-commerce giant Alibaba, which is preparing for its US initial public offering (IPO), on Friday claimed it was being blackmailed by a media organisation which runs a business magazine. The company said it has approached police after the media outlet, which remains unnamed, asked the e-commerce giant to pay $300,000 for a research report against it to be dropped. The research is allegedly based on negative reports from a domestic weekly and comments by individuals online, Alibaba said in a statement. Police in Hangzhou city, where the company is based, registered a case on Monday, state-run Xinhua news agency reported.
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