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Category: News Corporation
Alibaba to buy China mall operator in $2.6 bn plan
Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a $2.6 billion privatisation scheme, the companies said Tuesday, sending shares of the mall operator surging. Alibaba and Intime founder Shen Guojun have together offered to pay HK$10 per share to buy the shares they do not already own of the Hong Kong-listed chain.