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China: Alibaba inks nation’s largest-ever Internet merger

 |  June 11, 2014

Leading Chinese mobile browser firm UCWeb will be acquired by Alibaba, reports say, in a deal being touted as the largest Internet merger in China’s history.

The e-commerce company is slated to acquire one-third of UCWeb, allowing the web browser to more aggressively compete with market leaders Baidu and Tencent. The deal, reports say, also strengthens Alibaba’s position in China as it seeks to boost its wireless operations in the country.

The UCWeb deal is only the latest in a string of mergers for Alibaba. According to reports, the company has inked nearly $6 billion worth of acquisitions since the beginning of the year.

In its latest, Alibaba will join with UCWeb to form the UCWeb Mobile Business Group.

Full content: Re/Code

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