By  on June 11, 2014

SHANGHAI —Alibaba Group said Wednesday it is buying out the shares itdoes not already own in mobile browser operator UCWeb Inc. to form the"largest merger" of internet companies in China's history ahead of thee-commerce giant's much-anticipated initial public offering.  

UCWebInc. operates one of the country's most popular mobile internetbrowsers, UC Browser. Alibaba invested in UCWeb in 2009 and 2013,building up a 66 percent stake in the internet company in the form ofconvertible preferred shares.

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