Alibaba to buy stake in Sina Weibo - report

News Broadband China 19 NOV 2012
Alibaba to buy stake in Sina Weibo - report
Chinese e-commerce company Alibaba is planning to invest in micro-blogging site Sina Weibo. Alibaba will buy a 15 to 20 percent stake in Sina Weibo, The People's Daily Online reports citing Zhou Jinzeng, a former Alibaba staff member who said this on his NetEase Weibo account. Zhou said that Sina Weibo's market value is estimated at USD 2 to 3 billion.

Categories:

Internet

Companies:

Alibaba.com,  Sina,  Alibaba

Countries:

China

Tags:

M&A buyouts & divestments

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