Alibaba to pay about $3.7 billion for ‘China’s YouTube’

It is also a vote of confidence in China's economy by Alibaba Chairman Jack Ma, who has said investors should not overreact to his country's slowing growth. Youku Tudou's American Depositary Shares rose 10 percent to $26.80 in premarket trading on Friday, below Alibaba's offer of $27.60 per ADS. Alibaba held 18.3 percent of Youku Tudou as of Oct

Read more