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Sina Denies Alibaba Investment Rumor

Tencent Tech, 12/27/12

Chinese internet company Sina (Nasdaq: SINA) denied rumors today that e-commerce conglomerate Alibaba Group would purchase a stake in the company's Weibo microblogging service. Earlier rumors suggested that Alibaba Group would buy a 15% to 20% stake in Sina Weibo, valuing the service at USD 3 bln.

Editor's Note: For more information on this topic, please see "Rumor: Alibaba Outbid Tencent, Baidu to Invest in Sina Microblog," MD 12/21/12 and "Rumor: Alibaba, Sina Microblog Resume Investment Talks," MD 12/17/12 issues.

Keywords: e-commerce Internet M&A Sina microblogging Alibaba Group

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