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Alibaba buys 18 percent stake in Sina's Weibo

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NEW YORK (AP) — Alibaba Group, China's largest e-commerce company, has agreed to buy an 18 percent stake in Sina Corp.'s Weibo, the microblogging platform. Alibaba, which is partly owned by Yahoo Inc., says it has paid $586 million for the stake in China's equivalent of Twitter. It has the option of increasing its ownership to 30 percent. Sina's U.S.-listed shares jumped $6.69, or 13 percent,...

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