Alibaba offers to buy all of video streaming company Youku Tudou

[BENGALURU] Alibaba Group Holding Ltd said on Friday it offered to buy all outstanding shares of Chinese video streaming company Youku Tudou Inc that it does not already own.

Alibaba said its all-cash offer of US$26.60 per American Depositary Share represented a premium of about 30 per cent to Youku Tudou's closing price on Thursday.

Alibaba currently owns 18.3 per cent of Youku Tudou, the Chinese e-commerce giant said.

REUTERS