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Electronics Production | October 29, 2007

Foxconn (Far East) buys shares in Alibaba

Hon Hai subsidiary Foxconn (Far East) Ltd has acquired a 0.347 pct stake in China's Alibaba.com Ltd on October 27.
Foxconn has spent 239.30 million hkd for the acquisition of Alibaba. Foxconn will pay 236.91 million twd for 17.549 million Alibaba.com common shares at a price of 13.50 hkd per share. The company will also pay transaction fees and stamp duties, Tradingmarkets reported.

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