The newspaper group revealed the sale price in a statement filed to
the Hong Kong stock exchange. The deal was announced on Friday.
Besides the English-language newspaper, Alibaba will also own sister publications, websites, and magazines.
The acquisition has raised questions due to the close links Alibaba founder Jack Ma has with Beijing.
What do employees at SCMP think of the deal?
Alibaba
has promised that the paper would have editorial independence, and said
it could leverage on its technology expertise to develop the paper.
The
newspaper group said it will gain about HK$1.4m from the sale, "a very
substantial proportion" of which would be disbursed in a special cash
dividend.
The paper was founded in 1903 but profits and sales have
been hit in recent years by the same declines as newspapers in many
countries.
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