Ron Burgundy Posted September 28, 2014 Share Posted September 28, 2014 BEIJING (Reuters) - Alibaba Group Holding Ltd, in its first big investment since raising $25 billion in a record-breaking New York initial public offering, has bought 15 percent of Chinese hospitality technology provider Beijing Shiji Information Technology Co Ltd for 2.81 billion yuan ($458.66 million). The investment is expected to allow the e-commerce giant to develop its Taobao travel business alongside Beijing Shiji, including back-office services, while helping to migrate hotel customers to Alibaba's e-commerce website. ... View the full article Quote Link to comment Share on other sites More sharing options...
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