Date
14 December 2017

Alibaba may take stake in Hundsun Tech, paper says

Alibaba Group is believed to be setting its investment sights on financial software provider Hundsun Technologies Inc. (600570.CN) after the internet giant forked out HK$5.37 billion (US$692.25 million) to co-develop online-to-offline business with Intime Department Store (Group) Co. (01833.HK), the 21st Century Business Herald reported Tuesday. Shares of Hundsun Technologies have been suspended from trading since March 17. Alibaba and Hundsun refused to comment, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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