Alibaba plans to acquire a "YouTube China"

Alibaba plans to acquire a "YouTube China"

Alibaba plans to acquire a "YouTube China": He offered Alibaba Group Holding to buy all the shares "and Yuko Todo" Youku Tudou does not already own, in a deal that valued the Chinese company video broadcast by about $ 5.2 billion.

Alibaba owns at present accounted for 18.3% of the shares of the company "Yuko Todo" - sometimes dubbed "the YouTube of China" - was purchased in May / May 2014 as part of its efforts toward online video.

The Chinese e-commerce giant, which plans to convert "YouTube China" to a private company, he offered to pay in cash of $ 26.60 for each American, "US share of deposit" ADS, which represents a premium of 30.2 on the closing price of shares "Yuko Todo" on Thursday.

Company shares have risen "Yuko Todo" listed on the New York-inch by 23% to $ 25.05 in premarket trading Friday, but still below the price offered by Ali Baba.

She said, "Yuko Todo" The founder and chief executive and its president, Victor Koo, agreed to support the width Ali Baba. It added that its board of directors formed a special committee consisting of two independent directors to consider the offer.

The chief executive of Alibaba, Daniel Zhang, in a statement, "promoted the importance of digital products, especially video, to match the importance of material goods in e-commerce," and added that the visual content of a high quality provided by "Yuko Todo" will be a key element in the Offers Ali Baba from digital products in the future.