Deals
Alibaba to Pay $804 Million for Control of ChinaVision
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Alibaba Group Holding Ltd. will pay HK$6.24 billion ($804 million) for control of ChinaVision Media Group Ltd., giving China’s biggest e-commerce company access to content from games and films to English Premier League soccer.
The purchase of new stock, at a 22 percent discount to the previous closing price, will boost the stake held by Alibaba and parties acting with it to 70.8 percent from 27 percent, according to a ChinaVision filing yesterday. The shares rose by a record today.