Ma's deal disappoints his hometown
By Yan Yiqi in Hangzhou | China Daily | Updated: 2014-06-06 07:06
Alibaba chairman passes on local club, defends the choice
Internet tycoon Ma Yun's purchase of a Guangzhou soccer club is sparking backlash from residents of his hometown Hangzhou.
Ma is chairman of Alibaba Group, China's largest e-commerce company. On Thursday, the firm announced it was buying a 50 percent stake in Chinese Super League club Guangzhou Evergrande.
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