Alibaba buys stake in E-House to expand presence in real estate

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Alibaba Group Holding Ltd. has agreed to purchase HK$828.1 million ($118.5 million) worth of shares in Hong Kong-listed E-House (China) Enterprise Holdings Ltd., as the e-commerce giant expands its presence in the real estate sector to broaden revenue streams.

Alibaba will hold an 8.32 per cent stake in E-House to remain as the fifth-largest shareholder if the deal goes ahead, up from a 1.97 per cent stake it currently holds, according to a statement released by E-House on Friday.

In addition, Alibaba agreed to . . .

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