Alibaba buys stake in Meizu

Deal offers channel to expand mobile operating system via target's handsets

Alibaba Group Holding Ltd has agreed to spend $590 million for a minority stake in domestic smartphone maker Meizu Technology Co, which will offer it a means to expand its mobile operating system in China through the electronics company's handsets.

The deal is Alibaba's largest investment since its listing in the United States last year, according to a statement released by the group. However, its scope is unclear, with companies declining to offer any details.