Alibaba Pictures finds possible accounting irregularities

By Dow Jones

While the accounting issues are believed to have occurred before Alibaba bought the film production company-then called ChinaVision Media Group Ltd. -for more than US$800 million in June, they raise questions about whether the Internet giant rushed into the deal. "This makes you wonder whether there was enough due diligence in Alibaba's decision to buy ChinaVision, " said Tony Chu, analyst for an RS Investments fund that is considering whether to buy Alibaba's shares.

Read more here: Business Spectator


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