Alibaba raises stake in Chinese microblogging site Weibo to 31.5% for $135m

Alibaba raises stake in Chinese microblogging site Weibo to 31.5% for $135m

Chinese internet behemoth Alibaba Group Holding has acquired another three million American Depository Shares (ADS) of Weibo Corp from the company’s management team for a total of $135 million, increasing Alibaba’s stake in the Twitter-like service to 31.5 per cent from 30.1 per cent, according to a Securities and Exchange Commission (SEC) filing.

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