Alibaba Group Holding Limited will increase its stake in Hong Kong-listed film unit Alibaba Pictures Group Limited to around 50.92% from 49%, taking majority control of the film unit’s board, according to a December 9 announcement. Alibaba Pictures will issue one billion new shares to Alibaba at HK$1.25, valuing the exchange at roughly HK$1.25 billion […]

Alibaba Takes Control of Its Film Arm Alibaba Pictures In $160M Share Purchase appeared first on China Money Network.