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April 29, 2013 at 08:43 AM EDT
Alibaba Buys 18% Of "China's Twitter" Weibo For $586 Mln
Alibaba Group, the Chinese e-commerce giant that is 23% owned by Yahoo, has purchased an 18% stake in Sina Corp.'s Weibo microblogging service for $586 million, Sina said in an announcement today.
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