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Lutnick to Lead Commerce, a Final Biden-Xi Meeting, and USCC Supports PNTR Repeal
Alibaba Group, China’s largest e-commerce firm, become the largest shareholder in digital mapping company AutoNavi Holdings Ltd. on May 10 by taking a 28 percent stake. Analysts say Alibaba may be trying to diversify its product lineup ahead of a possible initial public offering later this year. In April, Alibaba also bought a 18 percent stake in Sina Weibo, often referred to as China’s Twitter.