Courtesy of Benzinga.
Bloomberg reported Monday that Youku Tudou Inc (ADR) (NYSE: YOKU) Chairman Victor Koo spoke about the relationship between Alibaba Group Holding Ltd (NYSE: BABA) and Youku.
Koo indicated that there no are talks about Alibaba taking an increased stake in the company but that the two will work on big data projects together.
According to the report, Koo also confirmed that Chinese regulators have capped foreign television and movie content at 30 percent. Koo did not see this as a problem as local content could be increased to meet the new standards.
In addition to local development, Koo suggested that the company may also work with U.S. and Europeans partners for content and films.
Lastly, the report also noted that Youku’s mobile traffic is double that of desktop, 60 percent versus 30 percent.
T.H. Capital recently issued a report on the company and saw significant growth potential.
Youku Tudou Inc (ADR) recently traded at $18.31, down 2.5 percent.
Posted-In: Bloomberg T.H. CapitalNews Management
