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Alibaba to pay $3.7B for China's YouTube

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Alibaba Group Holding Ltd. agreed to buy Youku Tudou Inc., known as China's YouTube, for about $3.7 billion, slightly more than it had offered in October.

The deal would give Alibaba access to over half a billion online video users.

The offer represents a 35 percent premium over Youku Tudou 's Oct. 15 closing price.

Read more from The Economic Times.

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