News of the proposed acquisition have boosted shares in Nasdaq-listed AutoNavi by more than 30% since the start of May and stand at about $14.77 per share.
Alibaba Group, China’s largest e-commerce company, has made a strategic play into the e-commerce and logistics markets with an agreed proposal to acquire a 28% stake in China-based digital mapping company AutoNavi Holdings for a reported $294m.
News of the proposed acquisition have boosted shares in Nasdaq-listed AutoNavi by more than 30% since the start of May and stand at about $14.77 per share.
The latest acquisition follows Alibaba’s 18% stake in Sina Corp’s microblogging service Weibo, China’s answer to…
