Alibaba Said to Take Stake in Sina Video
Alibaba Group Holding Ltd is reportedly interested in Sina Corp's (Nasdaq: SINA) online video business, and the two parties are making progress in the talks. China's biggest e-commerce company is likely to purchase an 18% stake in Sina's video business or more, according to Yicai.com. Alibaba paid $586 million in April for an 18% stake in Sina's weibo microblogging service, its most promising business.
PetroChina, Gazprom Seal Huge Gas Deal
CNPC, parent of PetroChina Co (NYSE: PTR, HKG: 0857, SHA: 601857), has reached a long-awaited natural gas deal with Russia's Gazprom. In 2006 the two oil giants signed a memorandum of understanding, where Gazprom is expected to export up to 68 billion cubic meters of natural gas to China annually.
Yashili to Build NZ Plant
Yashili International Holdings Ltd (HKG: 1230), a Chinese dairy maker, has been approved to build a $178 million infant formula plant in Pokeno, New Zealand. The plant is expected to roll out 52,000 tons of products per year.
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