HONG KONG, April 28 Alibaba Group Holding Ltd
and a private equity firm co-founded by its executive chairman
Jack Ma have agreed to buy a $1.22 billion stake in Chinese
online video company Youku Tudou Inc.
Alibaba and Yunfeng Capital are paying $30.50 per American
Depositary Receipt of Youku, or a 26.3 percent premium over the
last traded price, Youku Tudou said in a statement on Monday.
The two companies will jointly own a 18.5 percent stake in
Youku, whose on-line video services resembles Google Inc's
Alibaba, which is preparing for a U.S. initial public
offering, has conducted several mergers and acquisitions over
the past six months or so totaling at least $2.7 billion.
Chinese private equity firm Yunfeng Capital was co-founded
by Alibaba's Ma and is raising up to $1 billion in its second
fund, Reuters previously reported.
(Reporting by Denny Thomas and Elzio Barreto; Editing by Miral