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Alibaba buys half of Guangzhou Evergrande football club
06 Jun 2014
  China's biggest e-commerce firm Alibaba has bought a 50% stake in Guangzhou Evergrande Football Club for a reported 1.2 billion yuan ($192m; £114m). Guangzhou Evergrande is one of China's most successful football clubs. It was the first Chinese team to win the Asian Football Confederation Champions League last year. Alibaba's purchase comes in the run up to its highly-anticipated US share sale, and marks the firm's latest attempt to diversify its business.   B

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