THE largest equity deal in China’s Internet sector has drawn generally positive reviews and considerable speculation about how an alliance will affect future prospects for the nation’s most popular social network and its largest online shopping site.
Alibaba, China’s largest e-commerce group, has bought a US$586 million, 18 percent stake in Weibo, the Twitter-like microblog platform operated by Sina Corp. The deal also grants Alibaba the option of increasing its ownership to 30 percent in the future.
Major investment banks upgraded their ratings for Sina, which is listed in the US, citing positive effects from the collaboration.
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jason via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/OWXUd3FeJl0/
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