Alibaba and Jack Ma's co-founded company, Yunfeng Capital, said that they would acquire a stake in China's YouTube equivalent Youku Tuduo in a deal valued $1.22 bln prior its highly anticipated public debut.
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Jack Ma, Alibaba Group Holdings founder, invested CNY3.3 billion in Hundsun Technologies Inc. for a controlling stake in the company, reported Reuters.
A Bloomberg report said Jack Ma and Zhang Jindong may be allowed to create phone companies in China with the possible issuance of their licenses this month.
Private company intelligence firm PrivCo predicted that Alibaba's valuation would be at USD110 billion should the company go public.
In a move set to gain further foothold in the Chinese financial services sector, Alipay's parent company purchases asset manager.
In an email provided to news agency Bloomberg News, Alibaba Group Holding Ltd founder Jack Ma insisted that the partnership system was meant to provide value to company's shareholders, employees and customers.
Chinese Internet entrepreneur Jack Ma's Alibaba Group is buying back up to half of Yahoo Inc's 40 percent stake for $7.1 billion.
Bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies.
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