The Traderszone Network

Published in TZ Latest News 13 December, 2015 by The TZ Newswire Staff

Alibaba agrees on $266 million acquisition deal with South China Morning Post

Alibaba Group Holding Ltd (BABA.N) has agreed on a HK$2.06 billion ($265.8 million) deal to acquire the South China Morning Post and other media assets of SCMP Group Ltd , the newspaper group said in a statement on Monday. Alibaba and SCMP Group Ltd said on Friday that the Hangzhou-based company would buy the 112-year-old English language newspaper and other media properties, but did not put a value on the deal.

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