11 December 2018

Alibaba denies purchase of Shanda Games, report says

Alibaba Group has rejected market rumors that it will buy five business units from online gaming firm Shanda Games Ltd. for up to US$3.5 billion, reported Monday, citing an Alibaba executive. Shanda was widely rumored to be selling,,, and to Alibaba. Shanda had no comment on the speculation, saying the company is in a blackout period due to the privatization of announced late last month, the report said.

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