Alibaba Rumored to Up Sina Weibo Stake
Alibaba Group Holding Ltd plans to increase its stake in Sina Corp's Twitter-like weibo microblogging service, Pacific Crest reported. China's biggest e-commerce company paid $586 million in April for an 18% stake in Sina Weibo, which claims to have registered over 300 million accounts. Weibo is evaluated to make up half of Sina's assets, but it has yet to figure out a stable mode to monetize. Earlier this month Alibaba was reportedly interested in Sina's online video business, and they were said to be making progress in the talks.
Temasek Sells Out Youku Tudou Shares
Temasek Holdings, Singapore's sovereign wealth fund, plans to sell all of its $185 million worth of stake in Youku Tudou Inc (NYSE: YOKU), the operator of China's top 2 video websites, Reuters reported. Sennet Investments, Temasek's subsidiary, will sell 7.7 million Youku Tudou shares at $23.8 to $24 apiece. Credit Suisse has been hired to carry out the deal.
Eastern Airlines Passenger Traffic Up 11% in August
China Eastern Airlines Corp (NYSE: CEA, HKG: 0670, SHA: 600115) said its passenger traffic growth accelerated in August, up 10.8% from a year earlier, compared with 7.9% in July. Compared with strong passenger traffic, the company's cargo traffic was weaker, up just 2.6% year on year in August.
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