Alibaba to buy South China Morning Post

Great Wall Pan Asia Holdings

11/12/2015 13:05

Dec 11 (Reuters) - Chinese e-commerce giant Alibaba Group 
Holding Ltd  BABA.N  said it would buy publisher SCMP Group 
Ltd's  0583.HK  media assets, including the South China Morning 
Post newspaper. 
    The deal also includes licenses to several publications, 
including Hong Kong editions of Elle, Cosmopolitan and Harper's 
Bazaar.  urn:newsml:reuters.com:*:nBw3Kw88ka 
    Financial terms of the deal were not disclosed. 
    SCMP has a market value of HK$3.04 billion, or $392 million, 
according to Thomson Reuters data.      
 ($1 = 7.7500 Hong Kong dollars) 
 
 (Reporting by Anya George Tharakan in Bengaluru; Editing by 
Saumyadeb Chakrabarty) 
 ((anyageorge.tharakan@thomsonreuters.com; within U.S. 
+1-646-223-8780; outside U.S. +91 80 6749 7118;; Reuters 
Messaging: Reuters Messaging: 
anyageorge.tharakan.thomsonreuters.com@reuters.net)) 
 
Keywords: SCMP GROUP M&A/ALIBABA