Nov 9, 2015 (China Knowledge) – Chinese e-commerce giant Alibaba Groupis is said to be in talks with the country's top online portal Sina Corp to take full control of the latter, according to a person familiar with the matter.
Both sides make no comments on this issue.
Alibaba announced in Apr 2013 that it bought an18% stake in Sina Weibo Co. for US$ 586 million with a valuation of US$ 3.36 billion, becoming the second largest shareholder of Sina. At present, the e-commerce giant hold a total of 32% stake in Sina Weibo.
Analysts maintained that Sina, as one of the largest news portal for Chinese Internet, can provide traffic sources for Alibaba's e-commerce.
Moreover, Alibaba today inks a purchase agreement with Youku Tudou Inc to acquire all outstanding shares of the Beijing-based company for US$ 26.6 per American depositary share. The transaction would be paid in cash, according to the company.