Chinese e-commerce major Alibaba to buy South China Morning Post for USD 266 million

Q.  Which Chinese e-commerce company will pay USD 266 million for purchasing South China Morning Post?
- Published on 16 Dec 15

a. Baidu
b. Alibaba
c. Xiaomi
d. Redmi

ANSWER: Alibaba
 
Chinese internet company Alibaba will pay USD 266 million for the South China Morning Post of Hong Kong. The business had been valued at half the amount and some observers indicated that the hefty price tag reveals Alibaba’s intent to control the media. Alibaba also owns the Hong Kong editions of magazines Cosmopolitan, Elle, Esquire and Harper’s Bazaar.

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