China's Alibaba buys stake in Guangzhou Evergrande Football Club - Reuters

Alibaba Group Holding has acquired a 50 percent stake in Guangzhou Evergrande Football Club, winners of last year's Asian Champions League, for 1.2 billion yuan ($192 million), writes Reuters. Evergrande Real Estate Group Ltd will see its full ownership of Guangzhou Evergrande Football Club reduced to a 50 percent stake once the deal is completed.

DealsNorth AmericaUSBriefs