Alibaba makes offer for China's YouTube equivalent
Chinese e-commerce giant Alibaba
Shanghai - Arab Today
Chinese e-commerce giant Alibaba on Friday offered to buy the outstanding shares of Internet television company Youku Tudou, the Asian country's equivalent of YouTube, the firms said in a statement.
Alibaba, which already owns 18.3 percent of the New York-listed target company, is offering $26.60 per American depositary share, the statement said, without giving a total value for the deal.
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