Patrick Frater Asia Bureau ChiefChinese e-commerce giant Alibaba is poised to sell its 5% stake in Mango Excellent Media, which owns the highly popular Mango TV network.
It is unclear whether this heralds a wider sell-off of Alibaba’s media empire.The move, announced by Mango TV in a regulatory filing on Thursday, comes less than a year after Alibaba received state permission to buy the stake for RMB6.2 billion ($960 million at current exchange rates) and become Mango’s second largest stakeholder.
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