Daniel Loeb's Third Point hikes stake in Alibaba to more than $1b

Daniel Loeb's Third Point hikes stake in Alibaba to more than $1b

Daniel Loeb, CEO, Third Point LLC, participates in the "Financial Firms: Past, Present and Future" panel at the 2010 Milken Institute Global Conference in Beverly Hills, California April 27, 2010. REUTERS/Phil McCarten

Daniel Loeb’s Third Point increased its stake in Chinese Internet giant Alibaba Group Holding Ltd. by almost 50 percent in the third quarter.

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