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Rumor: Alibaba Invests in Sina Microblog

China Business News, 11/19/12

According to a source close to the company, Chinese e-commerce conglomerate Alibaba Group has reached an agreement with Chinese internet company Sina (Nasdaq: SINA) to invest USD 300 mln to USD 400 mln in the company's Sina Weibo microblogging platform. Alibaba Group will not take a controlling share in the platform. According to Cheng Lingfeng, the former head of Tencent's (0700.HK) Technology Center and a current columnist for the Financial Times China, Alibaba Group will take a 15%-20% share in Sina Weibo. Alibaba's investment in Sina Weibo would value the platform at around USD 3 bln.

Alibaba Group and Sina have yet to comment on the story. A mid-level Sina employee has stated that the two companies are indeed in talks about a possible investment.

Keywords: Internet investment Sina microblogging Alibaba Group

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The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

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