Alibaba to sell all stake in Mango Excellent Media at a $356 million loss · TechNode

Alibaba’s investment arm Ali Venture Capital plans to sell all of its stake in Mango Excellent Media, a public traded media company with ties to a local state broadcaster, a Thursday statement showed. Alibaba holds a 5.01% stake in Mango and is expected to lose about RMB 2.3 billion ($356 million) if it sells at the current price of around RMB 41 per share. Alibaba acquired the stake late last year through an RMB 6.2 billion deal at RMB 66.23 apiece. [National Business Daily, in Chinese]

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Written by Aakash Malu


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