27 February 2020

Alibaba ‘to buy 20% stake’ in Wasu Media, paper says

Alibaba Group Holdings Ltd. is expected to take a 20 percent stake in Wasu Media Holding Co. Ltd. (000156.CN), its smart-TV set-top box partner, National Business Daily reported Tuesday, citing media reports. Alibaba declined to comment on the deal that could be its first stake purchase in an A-share listed company. An employee in Wasu Media’s board secretary’s office said the company suspended share trading last Tuesday in part to introduce strategic investors, the report said.

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