Asian Tech Press (Feb 23) -- Chinese e-commerce giant Alibaba Group Holding Ltd (BABA:NYSE) said Wednesday it would not publicly respond to Lazada's financing and spinoff.

Alibaba had reportedly halted talks to raise $1 billion before a potential IPO of Lazada, the company's e-commerce marketplace in Southeast Asia.

At the same time, the e-commerce giant also planned to spin off Lazada in preparation for its potential initial public offering (IPO). However, the plans did not come to fruition.

In response, Alibaba-related sources said, "There will be no public response to the matter."