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UCWeb buy may raise Alibaba IPO valuation: UCWeb CEO

شعار Reuters Reuters 12/06/2014 Reuters
A woman stands next to a door inside the headquarters of Alibaba in Hangzhou, Zhejiang province, April 23, 2014. © REUTERS-Chance Chan A woman stands next to a door inside the headquarters of Alibaba in Hangzhou

BEIJING - Alibaba Group Holding Ltd's full acquisition of Chinese mobile browser firm UCWeb and subsequent merger may create a higher valuation for Alibaba's coming U.S. listing, UCWeb Chief Executive Yu Yongfu said at a group media interview on Thursday.

On Wednesday, Alibaba bought the remaining one-third of UCWeb the e-commerce firm didn't already hold in what it said was the biggest Internet merger in China's history.

(Reporting by Paul Carsten; Editing by Kazunori Takada)

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