China's Qihoo 360 denies Alibaba to take stake in company

BEIJING Wed Jan 8, 2014 9:43pm EST

BEIJING Jan 9 (Reuters) - Chinese Internet company Qihoo 360 Technology Co Ltd denied on Thursday that Alibaba Group Holding Ltd would take a stake in the company.

"These are rumours someone has made up," said Qu Xiaodong, vice-chairman of Qihoo, which has a market capitalisation of $10.93 billion. Qihoo's shares had risen 9.3 percent on Wednesday on speculation the two were in talks on a deal.

Alibaba said it does not comment on rumours or speculation.