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China's e-commerce giant joins Chinese soccer

English.news.cn   2014-06-05 11:11:06

GUANGZHOU, Guangdong Province, June 5 (Xinhua) -- Chinese largest e-commerce company Alibaba Group has become part owner of the country's top soccer club Guangzhou Evergrande on Thursday.

At a joint press conference, Alibaba founder and chairman Ma Yun and real estate tycoon Xu Jiayin announced this much anticipated co-operation.

Alibaba bought 50 percent of Evergrande's stake, worth 1.2 billion yuan (about 192 million U.S. dollars).

Evergrande's blitz to conquer the Chinese top league has left many dumbfounded. Promoted to the Super League in 2011, the Guangzhou club won the title in the very season before they went on to dominate 2012 and 2013.

In 2013, the club claimed the Asian Football Confederation (AFC) Champions League crown, becoming China's first Asian champion since the country launched the professional league in 1994.


Video: China's e-commerce giant Alibaba Group enters Chinese Super League

Alibaba invests in SingPost

HANGZHOU, May 28 (Xinhua) -- China's Alibaba Group will take over a 10.35 percent stake in Singapore Post Ltd. (SingPost) with an investment of 249 million U.S. dollars, according to an agreement between the two sides.

According to the agreement signed on Wednesday, Alibaba will use the money to buy 30 million existing ordinary shares held in treasury by SingPost and 190,096 million new ordinary shares, a 10.35 percent stake in SingPost. Full Story


Editor: Yamei Wang
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