Jack Ma, Alibaba Group Holdings founder, invested CNY3.3 billion in Hundsun Technologies Inc. for a controlling stake in the company, reported Reuters.
Alibaba Group Holdings
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Alibaba Group Holding will be buying a majority stake in ChinaVision Media Group Ltd in an $804 million deal, allowing it to access TV and movie content, Reuters reported.
Tencent Holdings will be acquiring a 15% stake in JD.com in a $214.7 million deal to provide a stronger platform that will rival Alibaba Group Holdings in the space, Bloomberg reported.
UCWeb Inc, a company backed by Alibaba Group Holdings, is looking at acquisitions to add more programmers and platforms so it can better compete with its rivals, Bloomberg reported.
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