Alibaba Group planning to buy into Sina Sports

Chinese business giants Alibaba Group are reportedly planning to invest tens of million US dollars into Sina Sports, according to an insider of invest community based in China.

Alibaba are expected to become the largest shareholder of Sina Sports if the deal would be eventually inked.

Sina Sports would be likely to be spun off from Sina, one of the leading portal sites in China, for independent listing after the investment, some analyst pointed out.

As a prelude to this significant link, the sides have jointly hosted a fans meeting for Kobe Bryant earlier this month.

And there are reports indicating Alibaba were in talks with Sina on investment in sports and video sectors of the latter two years ago.

But up now either side has left no comment on the news.

Alibaba have strengthened its presence in sports business in recent years with RMB1.2b to back Guangzhou Evergrande FC and latest investment in Letv Sports.

Source: ifeng