Alibaba To Acquire Chinese Lottery Operator AGTech For $308M

A unit of Alibaba Group Holding Ltd. is to acquire control of Hong Kong-listed lottery operator AGTech Holdings Ltd. for around HK$2.39 billion (US$308 million), according to a disclosure document. Ali Fortune Investment Holding Ltd., 60% owned by Alibaba and 40% by Alibaba's financial services arm Ant Financial, has agreed to buy HK$1.68 billion of […]

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Read the original article: China Money Network