Chinese e-commerce giant Alibaba Group bought back a 20% stake in the company held by Yahoo (YHOO.NASDAQ) for around US$7.1 billion in the run-up to a possible future initial public offering, Bloomberg reported. The ailing US search engine will receive US$6.3 billion in cash and around US$800 million in Alibaba preferred stock. During the IPO, […]
Category: Tech, Media & Telecom
Categories
Strong signals
The return of China Mobile’s glory days
Alibaba Group Holding is close to a deal to buy back half of its 40% stake held by Yahoo (YHOO.NASDAQ) and could announce an agreement on the sale as soon as today, Bloomberg reported, citing an anonymous source. Alibaba would buy 20% of its shares back for US$7 billion using cash and debt to pay […]
Tencent Holdings (0700.HKG), China’s largest internet company, reported a 2.8% increase in first-quarter net profit to a record RMB2.95 billion (US$467 million), in line with analyst estimates and indicative of slowing profit growth across the industry, Bloomberg reported. Revenue at the firm rose 52% to RMB9.65 billion. Competitor Sina Corp (SINA.NASDAQ), the operator of the […]
French advertising company Publicis Group (PUB.EPA) said Monday it bought Beijing-based digital-marketing company Longtuo for an undisclosed amount, Publicis’s fourth purchase in as many months as it seeks to make China its second-largest market by 2015, The Wall Street Journal reported. Longtuo will operate under Publicis’ digital arm, Razorfish. Industry insiders said Publicis is looking […]