Visitors walk past a booth for Alibaba at the China International Fair for Trade in Services (CIFTIS) in Beijing, Sept. 3, 2021. Photo: AP
Alibaba ends a ‘cautious’ year overshadowed by antitrust probe by doubling stake in tour agency
- At 4.41 yuan per share, the price is half what Alibaba paid for its initial 5 per cent stake in Shenzhen-listed UTour Group in September last year
- In the first seven months, Alibaba invested 20.8 billion yuan in 22 deals, compared with Tencent Holdings’ 163 deals worth a combined 93.1 billion yuan in the first half
Visitors walk past a booth for Alibaba at the China International Fair for Trade in Services (CIFTIS) in Beijing, Sept. 3, 2021. Photo: AP
