Challenging Alibaba, Global Sources Buys Stake in Rival

From International Herald Tribune:

"Global Sources, a Nasdaq- listed company that matches buyers and sellers online, has purchased 10 percent of a Chinese rival - a move that will allow it to challenge Alibaba.com's dominance of the nation's e-commerce market.

Global Sources bought 478 million outstanding shares of HC International for 76.9 million Hong Kong dollars, or $9.91 million, on Friday, the company said."