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Ali Baba and spending continues to account for Youku Tudou
Announced Alibaba Chinese e-commerce for its acquisition of the remaining shares of the video site Youku Tudou, which is hugely popular in China, in a deal valued at about $ 3.7 billion.
Under the deal, shareholders and shareholders will get in on the site Youku Tudou amount of $ 27.6 per share, higher than the initial offer made by the Pope in October, which represents a $ 26.6 per share.
The company’s shares closed in the United States amount to $ 26.14 with the end of trading on Friday after the acquisition was announced, and the company has been included shares to the public in December 2010 at a price of $ 12.8 per share, and provided about 15.84 million shares.
And got Ali Baba in the earlier accounted for 18.3% of video online company, and the company can Alibaba now have access to more than 580 million users a month for video site on the Internet, which increases and enhances the company’s position in China’s digital media market.
Youku Tudou company said in a statement that the company’s board unanimously approved the merger and recommends that shareholders vote by the administration and to give permission and approval to complete the acquisition.
Said Chairman of the Board and Chief Executive Officer of the company Youku Tudou “We are keen to work with the company Alibaba to increase our growth in the field of multi-entertainment systems and media, and we are confident that we will strengthen our position in the market and we are accelerating our growth through the integration of our business with Ali platform Pope and services Alipay “.
It is expected the end of the finalization of the deal in the first quarter of 2016, and when completed, Victor Koo Director and Chief Executive Officer of the company will remain in his post and will be deleted shares from the New York Stock Exchange.
The announcement of the deal while facing the company Alibaba criticism of slowing growth has, so although recently the publication of its financial results for the second quarter by an increase in revenue by 32%, and also the Chinese Internet company to inject funds for the development of its cloud and expand the infrastructure of the trade e in the region.Viewing:-168
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