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Sunday, July 6, 2014

China's Alibaba And Tencent Gobbling Up Everything In Sight

Jack Ma, the leading light behind Alibaba Group, was drunk when he agreed to take a stake in Guangzhou Evergrande Football Club, at least according to Hui Ka Yan, the seller.  And Ma did not bother too much with the details of his 1.2 billion yuan ($192 million) buy on behalf of Alibaba.  “We finished it in 15 minutes,” said Hui, referring to the negotiations.

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