Alibaba takes control of film unit in $160m share purchase

A man walks past a reception desk at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Tuesday, Oct. 13, 2015. Photographer: Qilai Shen/Bloomberg

Alibaba Group Holding Ltd said on Monday it will increase its stake in Hong Kong-listed Alibaba Pictures to 51 percent, taking control of the film unit’s board.

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