Alibaba Not Taking Stake in Qihoo 360, Shares Drop
NEW YORK (TheStreet) Despite rumors to the contrary, Alibaba has no plans to take a stake in Qihoo 360
Earlier today, the news service Brightwire reported that Alibaba, which is partially owned by Yahoo!
When reached for comment, an Alibaba spokesperson said the company had no plans to invest in Qihoo 360, refuting the Brightwire report.
Shares of Qihoo 360 were falling 2.6% on Thursday to $93.43, trimming its advance over the past six months to 62%.
--Written by Chris Ciaccia in New York
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