Alibaba bids for rest of Youku Tudou

The deal values the Chinese YouTube-like video-streaming company at more than $5 billion and highlights Alibaba's push to become a major player in online video content.

E-commerce giant Alibaba has tabled an offer to buyout the remainder of Youku Tudou, valuing the New York-listed Chinese video-hosting company at about $5.1 billion.

In a statement on Friday, the Hangzhou-based group said it made a non-binding cash offer of $26.60 per American Depositary Share for all the remaining shares in the Chinese YouTube-like service. Alibaba already owns an 18.3% stake in Youku Tudou, which it bought last year for $1.22 billion.

The offer price constitutes a 30% mark-up on Youku Tudou's $20.43 closing share price on Thursday, when the company had a market capitalisation of approximately...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222