Singapore's GIC & Temasek buy Alibaba stock worth $1b post Softbank divestment

Singapore's GIC & Temasek buy Alibaba stock worth $1b post Softbank divestment

A man looks at his phone as he walks past an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter

Singapore sovereign wealth funds bought $1 billion of Chinese e-commerce company Alibaba Group Holding Ltd’s shares as part of an $8.9 billion sale by Japan’s SoftBank Group Corp, Alibaba’s biggest shareholder, the company said on Wednesday.

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