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VOL. 40 | NO. 7 | Friday, February 12, 2016

Alibaba buys nearly 33 million shares of Groupon

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NEW YORK (AP) — Alibaba has bought nearly 33 million shares of online daily deal service Groupon.

Groupon Inc.'s stock jumped more than 16 percent in Tuesday premarket trading.

The purchase gives the Chinese e-commerce powerhouse about a 5.6 percent stake in Groupon. Alibaba disclosed the purchase in a regulatory filing on Friday.

The news comes shortly after Groupon reported a fourth-quarter adjusted profit and revenue that beat analysts' expectations.

Last month Alibaba Group Holding Ltd. reported better-than-expected third-quarter results as it benefits from a shift to mobile spending and a growth in users.

Shares of Chicago-based Groupon added 48 cents, or 16.6 percent, to $3.37 before the market open on Tuesday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0