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Alibaba Stock Up Today After $4.6 Billion Purchase of Suning (NYSE: BABA)
Alibaba stock is up 2% this morning (Monday) after the company announced it will be spend $4.63 billion on the electronics chain Suning Commerce Group Inc.
Alibaba Group Holding Ltd. (NYSE: BABA) officials said the $4.63 billion price tag will buy the company a 20% stake in Suning. In return, Suning will receive a 1.1% stake in Alibaba.
Alibaba stock is up 2% this morning (Monday) after the company announced it will be spend $4.63 billion on the electronics chain Suning Commerce Group Inc.
Alibaba Group Holding Ltd. (NYSE: BABA) officials said the $4.63 billion price tag will buy the company a 20% stake in Suning. In return, Suning will receive a 1.1% stake in Alibaba.