Date
20 October 2017

Alibaba offers to buy rest of amap.com, paper says

Alibaba Group Holding Ltd. has offered to buy outright the rest of online mapping service amap.com to make it a wholly owned subsidiary, the Shanghai Securities News reported Tuesday. Alibaba, which now owns 28 percent of amap.com, offered to buy the remaining stake at US$21 per unit of amap.com’s American depositary receipts, or roughly a total of US$1.1 billion. Meanwhile, amap.com, China’s top mobile mapping service by market share, said it will form a special committee to assess the offer, the report said.

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