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JUN 11, 2014 - Yahoo! News

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Alibaba to buy out UCWeb in China's biggest internet merger

By Paul Carsten BEIJING (Reuters) - Alibaba Group Holding Ltd [IPO-ALIB.N] will fully acquire mobile browser firm UCWeb in the biggest merger in Chinese internet history, upping the stakes in its battle with arch-rivals Tencent and Baidu. Alibaba's purchase of the one-third of UCWeb it didn't already hold emphasises the company's push to do more business on mobile in the world's biggest smartphone market, where it is locking horns with Tencent Holdings Ltd and Baidu Inc. It also adds to a string of acquisitions, including a 50 percent stake in China's most successful ... Read More

Tags: Alibaba to buy out UCWeb in China's biggest internet merger,  Baidu Latest News