[Reuters] Alibaba invests $193 million to buy Chinese asset manager Tianhong

Posted by: UGN Security

[Reuters] Alibaba invests $193 million to buy Chinese asset manager Tianhong - 10/09/13 04:52 AM

BEIJING (Reuters) - Chinese Internet company Alibaba Group has invested 1.18 billion yuan ($192.8 million) to buy fund management company Tianhong Asset Management Co, Tianhong shareholder Inner Mongolia Junzheng Energy & Chemical Industry Co said in a statement on Wednesday.