GEORGE SOROS BECAME NO. 3 SHAREHOLDER OF ALIBABA.COM

AsiaInfo Services
05-17-2010
George Soros Became No. 3 Shareholder of Alibaba.com

HANGZHOU, May 17, 2010 (SinoCast Daily Business Beat via COMTEX) -- George Soros, founder of Soros Fund Management, LLC, made an investment in Alibaba.com Ltd. (SEHK: 1688) last year, becoming the third-biggest shareholder of the Chinese e-commerce giant, said David Wei, chief executive officer for the Hong Kong-listed company.

Mr. Soros invested in Alibaba.com in the third quarter of 2009, said Mr. Wei at an annual shareholder meeting, without specifying the size of the investment, or disclosing whether the billionaire investor ranked third among all the Alibaba.com shareholders or among the non-institutional shareholders.

Alibaba.com, which runs the country's biggest online business-to-business (B2B) platform, is 73% owned by its biggest shareholder Alibaba Group. An affiliate of Morgan Stanley (NYSE: MS) takes 1.5% of the holdings in Alibaba.com, and each of the other shareholders get not more than 0.36% of the company.

Alibaba.com unveiled its financial report for the first quarter of 2010 last Thursday, saying that the results it achieved was the best in a year.

Source: www.ittime.com.cn (May 17, 2010)

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