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Alibaba, Yunfeng agree to buy $1.22 billion stake in Youku Tudou

28
Apr
2014

HONG KONG (Reuters) – Alibaba Group Holding Ltd and a private equity firm co-founded by its executive chairman Jack Ma have agreed to buy a $1.22 billion stake in Chinese online video company Youku Tudou Inc. Alibaba and Yunfeng Capital are paying $30.50 per American Depositary Receipt of Youku, or a 26.3 percent premium over the last traded price, Youku Tudou said in a statement on Monday. The two companies will jointly own a 18.5 percent stake in Youku, whose on-line video services resembles Google Inc’s YouTube. Alibaba, which is preparing for a U.S. …

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