Announced
Financials
Sources
Tags
Acquisition
Radio and TV Broadcasters
Minority
Pending
broadcasting company
Friendly
Domestic
Private
China
Single Bidder
Synopsis
Alibaba, a provider of online and mobile commerce businesses, agreed to acquire a 5.26% stake in Mango TV, a broadcasting company, for $946m. The deal makes Alibaba the second-largest shareholder in the latter firm, and marks the first major investment by a privately owned tech firm in one of China’s top state-owned online broadcasters.
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