Tencent Tech, 12/12/11
An industry source claims that Chinese e-commerce company Alibaba Group will wholly acquire TV shopping joint venture Wasu Taobao Digital Technology for RMB 28 mln from IPTV network operator Wasu Digital Television Media Group. Following the acquisition, Wasu Taobao will come under the management of Alibaba's Taobao Mall platform. Alibaba has not offered any comment on the claims.
According to an unconfirmed report, Wasu Taobao has lost nearly RMB 10 mln over the year since it launched.