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Alibaba, China Mobile weigh $443mn investment in blacklisted Dahua
- Wednesday | 16th September, 2020
HONG KONG (Reuters) – Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said. E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua – which has a market capitalisation of $10.3 billion – via a private share placement in coming weeks, the people said. China Mobile is also negotiating a three-year business agreement with Dahua worth 40 billion yuan, said two of the people, who declined to be identified as the plans are private. The agreement would give China Mobile use of Dahua’s big data and cloud computing services, video surveillance equipment and Internet of Things (IoT) technology, they said. Neither China Mobile nor Alibaba responded to requests for comment.
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