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Alibaba buys stake in ChinaVision

2014-03-12 07:57 Global Times Web Editor: qindexing
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Alibaba Investment Ltd, an investment arm of Alibaba Group Holdings Ltd, has agreed to buy a 60 percent stake of Hong Kong-listed ChinaVision Media Group, the latter said on Tuesday.

Alibaba will subscribe to 12.49 billion new shares of ChinaVision Media Group for a total of HK$6.24 billion ($804 million) for investment.

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