Reuters: Technology News: Sina says Alibaba buys 18 percent stake in Weibo for $586 million

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Sina says Alibaba buys 18 percent stake in Weibo for $586 million Apr 29th 2013, 12:19 Tweet Share this Email Print A man holds an iPhone as he visits Sina's Weibo microblogging site in Shanghai May 29, 2012. Credit: Reuters/Carlos Barria Mon Apr 29, 2013 8:19am EDT (Reuters) - China's Sina Corp said e-commerce company Alibaba Group has bought an 18 percent stake in its microblogging service, Weibo, for about $586 million. Sina has also granted an option to Alibaba to increase its stake in Weibo to up to 30 percent within a stipulated time. (Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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