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George Soros Invests in Chinese Alibaba.com

May 15, 2010, 5:21 am
The Financial Times reports today that David Wei, Chief Executive of Alibaba.com, has revealed that George Soros has become one of the organisation's largest shareholders. Mr. Wei also told the FT that Alibaba intends to buy out Yahoo's stake in the Alibaba parent company. The Financial Times makes the common mistake of describing Alibaba.com as a 'Yellow Pages' type organisation which it is not. Unlike the 'Yellow Pages' concept, it is not targeted at consumers.

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