Utour group signs strategic cooperation framework agreement with alibaba's affiliate

Says it plans to set up jv worth 150 million yuan ($22.01 million) with alibaba's tourism affiliate.says it signs strategic cooperation framework agreement with alibaba's tourism affiliate on business development.says controlling shareholder signs agreement to sell 5% stake in the company to alibaba's affiliate for 384.7 million yuan.says no change in company's ownership after the transaction.
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