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Alibaba, Youku Tudou sign acquisition deal

Xinhua, November 6, 2015 Adjust font size:

China's Internet conglomerate Alibaba announced Friday that it has signed an agreement with Youku Tudou Inc. on an all-cash offer to acquire the rest of the country's most popular online video streaming website.

Alibaba currently owns 18.3 percent of the outstanding shares of Youku after a strategic investment in April 2014. It would buy the rest for 27.6 U.S. dollars per American depositary share (ADS) in a 4.35-billion-U.S.-dollar deal. Endi