Alibaba founder buys Wasu stake

Wednesday 9 April 2014 | 03:02 CET | News
The founder of Chinese e-commerce group Alibaba, Jack Ma, and partners will buy a 20 percent stake in Wasu Media Holding for CNY 6.5 billion. Major shareholders Wasu Digital TV Media Group and Alibaba have signed a strategic cooperation agreement, Xinhua reports. Wasu Media Holding will use the new funds to develop content and expand its Wasu internet TV terminals. 

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Categories: Broadcast & Satellite / Internet
Companies: Alibaba
Countries: China
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