Alibaba to buy out UCWeb in China's biggest Internet merger

Posted online June 11, 2014 | 6:17 am

Alibaba Group Holding Ltd. will fully acquire mobile browser firm UCWeb in the biggest merger in Chinese Internet history.

The purchase comprises the one-third of UCWeb Alibaba didn't already own, according to Fox Business.

Once the deal closes, Alibaba, founded by Jack Ma, will have forked out almost $6 billion since the start of the year.

Read more from Fox Business.

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