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Alibaba To Invest In China Business Network To Expand Finance Services: China Media

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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People ride a double bicycle past a logo of The Alibaba Group at the company's headquarters on the outskirts of HangzhouBEIJING/SHANGHAI (Reuters) - Chinese e-commerce company Alibaba Group Holding Ltd will invest in financial media outlet China Business Network in a deal set to be announced on Thursday, Chinese media reported on Wednesday. The investment in China Business Network, part of Shanghai Media Group (SMG), will be worth more than 1 billion yuan ($161 million), said Sina.com, Sohu.com and QQ.com, citing unnamed sources familiar with the matter and unnamed people at Alibaba. SMG and China Business Network were not immediately available for comment outside normal business hours.




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