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Alibaba Group to Pay USD 433.5 Mln to Settle Shareholder Class Action Lawsuit
Alibaba Group, 10/27/24
Chinese e-commerce giant Alibaba Group (NYSE: BABA; 9988.HK) announced today in a filing with the Hong Kong Stock Exchange that it had agreed to pay USD 433.5 mln to settle a U.S. class-action lawsuit filed by investors alleging monopolistic practices. Read More
Tencent Trims Stake in Shopee-owner Sea to 18.7%
Reuters, 1/05/22
Chinese gaming and social media company Tencent Holdings (0700.HK) has raised USD 3 bln by selling 14.5 mln shares at USD 208 each in Sea Limited, which owns e-commerce firm Shopee, according to a term sheet seen by Reuters today. Read More
Firm Controlled by JD.com Founder Cleared to Establish Chinese Cargo Airline
Reuters, 8/03/21
A company controlled by the founder of Chinese B2C e-commerce platform operator and retail infrastructure service provider JD.com (Nasdaq: JD; 9618.HK) has been granted approval to set up a new cargo airline based in the eastern province of Jiangsu, reports Reuters, citing an announcement from China's aviation regulator today. Read More
China's FDA Forbids Merchants on Tmall Drugstore from Selling OTC Drugs
Yigoonet.com, 5/27/16
Tmall Drugstore, the third-party B2C medicine e-commerce platform operated by Alibaba Group's (NYSE: BABA) healthcare subsidiary Alibaba Health Information Technology (0241.HK), notified merchants on its platform today that they will no longer be allowed to sell over-the-counter (OTC) drugs anywhere in the country, according to a notice sent to Tmall Drugstore by the Hebei provincial branch of the China Food and Drug Administration (CFDA). Read More
Rumor: Alibaba to Secure Loans for Yahoo Stake Buyback
DoNews, 12/16/11
Several major banks are vying to provide Chinese e-commerce conglomerate Alibaba Group with the USD 4 bln in debt financing necessary to help its bid to buy back Yahoo's 40% stake in the company, according to Thomson Reuters. Read More
Rumor: CSRC Requests State Council Ban VIEs
Sina Tech, 9/19/11
Four law firms in mainland China and Hong Kong have told Reuters that the China Securities Regulatory Commission (CSRC) has issued an internal document proposing the State Council prohibit variable-interest entities (VIE). Read More
Rumor: Sina Acquires USD 40 Mln Stake in Tudou
China Venture, 8/17/11
An industry source claims that Chinese internet company Sina (Nasdaq: SINA) has purchased a USD 40 mln stake in online video site Tudou, which is expected to list on the Nasdaq exchange this week. Read More
Google China to Terminate Contract with Ad Resellers
Sina Tech, 10/19/10
Google today announced it will terminate the qualifications of seven authorized ad resellers in China. Read More
SMC Establishes New Media Company
Sina Tech, 9/09/10
On September 8, Chinese media firm Southern Media Corporation (SMC) established a new media company. Read More
Qiyi Expects RMB 100 Mln Ad Revenue Next Year
Netease Tech, 6/01/10
Gong Yu, CEO of Baidu's (Nasdaq: BIDU) online video subsidiary Qiyi, said in a recent interview with Reuters that he expects the company to achieve at least RMB 100 mln in advertising revenues next year, to begin breaking even on a quarterly basis in 2012, and to achieve total profitability in 2013. Read More
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