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April 28, 2014 05:17 pm GMT

Alibaba Takes $1.22B Stake In Youku Tudou, Chinas YouTube

thumbE-commerce giant Alibaba, part of Yahoo, is buying a $1.22 billion stake in Youku Tudou, the main online video provider in China, akin to YouTube. The move looks like a competitive bulwark against its main rival, Tencent. Alibaba and Yunfeng Capital are paying $30.50 per American Depositary Receipt of Youku, or a 26.3% premium over the last traded price, Youku Tudou said in a statement. The two… Read More

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