Alibaba runs a global e-commerce site that is one of the most visited in the world. Now it wants to get into the smartphone business. If this idea sounds funny, remember, Amazon has been trying to do the same thing.
But Alibaba is taking a different approach. Rather than come out with its own brand, it's reportedly purchasing a $590 million stake of the existing China-based smartphone maker Meizu. According to Reuters, this is a minority stake in the company, not enough to give Alibaba control. Read More
Verizon is perhaps the most intimidating fish in the sea of US cellphone carriers (okay - it's more of a pond). Now the Big Red is in talks to buy Vodafone's 45% stake in the company for $130 billion, and signs suggest that this deal could be completed within a week. If this goes through, it will mark the closure of a deal Verizon has wanted to secure for years.
If you aren't familiar with Vodafone, it's a British company with roughly four times the number of subscribers that Verizon has and the largest mobile network operator outside of China. Read More