Marbridge Daily

<- December 28, 2012 ->

Update: Sina Retracts Denial of Alibaba Investment Rumor

Shanghai Morning Post, 12/28/12

Following reports yesterday that Chinese internet company Sina (Nasdaq: SINA) has denied rumors that e-commerce conglomerate Alibaba Group would invest in its Sina Weibo microblogging service, Sina spokesperson Liu Qi has retracted his denial of the investment. According to Liu, his statement regarding a possible Alibaba Group investment was misunderstood. He clarified, saying, "What I meant to say is that I was not fully informed on the matter. Sina is a listed company and all financial information related to the company is disclosed."

Alibaba Group is rumored to be in talks with Sina to purchase a 15%-20% stake in its Sina Weibo microblogging service, valuing the service at USD 2-3 bln. The talks later reached an impasse due to the pricing of the agreement. Alibaba Group has reportedly since increased its original asking price by 50% for the same 15%-20% stake.

Editor's Note: For more information on this topic, please see "Sina Denies Alibaba Investment Rumor," MD 12/27/12 issue.

Please note, all fields are required.
None of your personal information will be shared with third parties.

Please enter your name

Please enter a valid email address
(City, Country)
Please enter your location
(Please leave empty)

You need to enter a message
Drop Shadow