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Hong Kong’s ChinaVision stock set to soar after Alibaba buys control

12
Mar
2014

HONG KONG (Reuters) – Shares of ChinaVision Media Group Ltd are set to open up 290 percent after China’s largest e-commerce company Alibaba Group Holding agreed to buy a controlling stake in the Hong Kong-listed television program services supplier. Shares of ChinaVision, which were suspended on February 25 and resumed trading on Wednesday, are set to open at HK$2.50 per share, compared with its previous close of HK$0.64 per share. That compares with 1.1 percent fall indicated for the benchmark Hang Seng Index. A unit of Alibaba has agreed to buy 12. …

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