Temasek, GIC buy $1 billion in Alibaba stock in SoftBank sale

Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday. GIC and Temasek confirmed the transactions but declined to provide further comment.

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