Alibaba to buy out UCWeb in China's 'biggest' internet merger
Alibaba Group Holding Ltd. said Wednesday it is buying the rest of mobile-browser provider UCWeb for an undisclosed amount, completing what the company said was the biggest merger of Chinese Internet companies in history. Alibaba already owned about 66% of UCWeb, according to the filing for its U.S. initial public offering. Alibaba has spent $4.8 billion on acquisitions over the past six months.
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