Jenny Chan 陳詠欣
Jul 20, 2018

Alibaba buys minority stake in Focus Media to engage with shoppers on the move

Alibaba Group acquired a minority 6.62% interest in China’s Focus Media and plans to take another 5% share in the Shanghai-based firm within the next 12 months.

Alibaba will pay US$1.43 billion RMB9.63 billion for a 6.62% share of Shanghai-based Focus Media, known for its outdoor advertising screens on streets, in subways and in elevators across 300 Chinese cities, according to a stock exchange filing.

In addition, Alibaba said it plans to acquire another 5% interest in the Shenzhen-listed Focus Media within the next 12 months.

At the same time, Alibaba will also purchase a...

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