Alibaba invests $458m in hotel IT software firm
Alibaba Group has bought a 15% stake in Beijing Shiji Information Technology, a Chinese hospitality information technology developer, for RMB2.81 billion ($458 million).
According to a regulatory filing, Shenzhen-listed Shiji Information will issue 54.6 million shares to Taobao Software, a technology unit that supports C2C marketplace Taobao, at RMB 51.52 apiece. The investment...
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