Alibaba Raises Stake In Chinese Investment Bank CICC Via $230M Deal

Alibaba Group has become the second-largest shareholder of Chinese investment banking firm China International Capital Corporation Limited (CICC) by raising its stake to approximately 11.74% in a deal worth over HK$1.81 billion (US$230.60 million), Alibaba confirmed with China Money Network on late Tuesday. The deal enables Alibaba to hold around 203 million CICC’s H shares, […]

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