Beijing, May 25 (ANI): Shareholders of the Chinese e-commerce website Alibaba.com have agreed to the company's plan to buy back shares in a bid to make the firm private.
The Alibaba Group said that it will pay about 2.5 billion dollars to complete the buyback, which is expected to be finalised next month, the BBC reports.
The firm is offering investors HK$13.50 per share, the same price as the its initial public offering in 2007.
Alibaba.com is one of China's biggest e-commerce websites. (ANI)