Alibaba Group, China’s largest e-commerce firm, will take a 28 percent stake in digital mapping company AutoNavi Holdings Ltd, part of Alibaba’s move to boost its competitiveness by beefing up its product lineup. Unlisted Alibaba will invest $294 million to become the largest shareholder in the Chinese-based firm, according to a statement from AutoNavi on Friday which confirmed an earlier report from news portal Sina. Read More
