Alibaba Digital Media & Entertainment Group Negates Rumor of Injection of Youku & Tudou into ALI PICTURES

The public relation department of Alibaba Digital Media and Entertainment Group was quoted by Chinese media as clarifying that the rumor of injection of Youku and Tudou into $ALI PICTURES(01060.HK)$ was unfounded.

According to hearsay, $BABA-SW(09988.HK)$ intends to further proceed its restructuring plan and conduct a strategic review of Youku and Tudou, potentially injecting the aforementioned assets into ALI PICTURES.