Investment giant Soros buys shares in Alibaba.com

May 14, 2010
A pedestrian walks past Alibaba.com advertising in Hong Kong. The Hong Kong-listed arm of China's e-commerce firm Alibaba said Friday that billionaire investor George Soros had bought was now among its top three largest shareholders.

The Hong Kong-listed arm of China's e-commerce firm Alibaba said Friday that billionaire investor George Soros had bought was now among its top three largest shareholders.

The legendary financier who founded Soros Fund Management bought shares in Alibaba.com in the third quarter of last year after visiting the company, its chief executive David Wei told reporters in Shenzhen.

But Wei declined to say how large Soros' stake in the company was, according to Dow Jones Newswires.

.com also said it is considering listing its shares in mainland China.

Hungarian-born Soros is famous for speculating against the British pound in 1992 as well as for his philanthropy.

The Hong Kong-listed company reported Thursday its first-quarter jumped 34 percent from a year earlier to 330 million yuan (48.34 million US) as the number of its paying members grew and revenue rose.

Explore further: 2012 movie massacre hung over 'Interview' decision

add to favorites email to friend print save as pdf

Related Stories

China's Alibaba teams up with US PayPal

Apr 27, 2010

Chinese e-commerce firm Alibaba said Tuesday its new transaction platform would accept payments from users of US online payment service PayPal, amid efforts to expand overseas.

Chinese retail site, Yahoo! Japan unveil deal

May 10, 2010

China's largest retail website Taobao and Yahoo! Japan on Monday announced a new partnership aimed at increasing online shopping options for consumers in the world's number two and three economies.

China Mobile hopes to agree iPhone deal

Mar 18, 2010

China Mobile said on Thursday it hopes to soon reach a deal with Apple to sell the iPhone, several months after rival China Unicom launched the iconic smartphone in the country.

Recommended for you

2012 movie massacre hung over 'Interview' decision

6 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

12 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

15 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.