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Alibaba Acquires UCWeb To Compete In Mobile Search

One of China's largest e-commerce portals, Alibaba, has purchased the remaining shares of UCWeb in a cash-and-stock deal. Reports peg the UCWeb as one of China's most popular mobile Web browser. Alibaba already owned 66%. The company said the valuation surpasses Baidu's acquisition of 91 Wireless last year as China's biggest Internet deal.

Read the whole story at Bloomberg »

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