An investment arm of Chinese e-commerce giant Alibaba Group Holding Ltd, targeted in a regulatory crackdown, will divest its entire stake of 5.01% in broadcaster Mango Excellent Media Co Ltd, the media firm said. The sale comes less than a year after the investment in December last year, as Chinese authorities mount an anti-trust crackdown on large tech companies. One major target has been Alibaba, which faced a fine of $2.75 billion over anti-competitive practices. In Thursday's filing to the stock exchange, the media company said Alibaba's investment arm would seek a waiver from a one-year lockup to which it committed at the time of its investment. Since then, shares of Mango Excellent Media have fallen roughly 40%. The firm, based in China's western province of Hunan, produces Internet and television content besides running a shopping division. Alibaba did not respond to a request for comment.