Alibaba Group Reportedly Becomes Navigation Service Provider AutoNavi's Majority Shareholder With a 20% to 30% Stake

Alibaba Group is reportedly now the majority shareholder in AutoNavi, a German maker of electronic navigation tools. The Chinese Internet giant's investment gives it a 20 percent to 30 percent stake in AutoNavi, according to Sina Tech (link via Google Translate). The report cites multiple unnamed sources, but Alibaba is supposed to make an official announcement on Monday.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/It_CdV8XCA8/

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