Alibaba (China) Network Technology Co., Ltd. signed an equity transfer agreement to acquire 5.28% stake in Focus Media Information Technology Co., Ltd. (SZSE:002027) from Glamorous Sky Limited and Power Star Holdings (Hong Kong) Limited for CNY 7.7 billion on July 17, 2018. Alibaba (China) Network Technology will acquire 406.6 million shares from Power Star Holdings (Hong Kong) and 367.8 million shares from Glamorous Sky at an offer per share of CNY 9.9167. Subject to the satisfaction or exemption of the conditions precedent of the agreement, each party shall, within one working day from the date of the written notice of the transferor's agreement, go to the CSI Registration Company to handle the transfer of the underlying shares. The transferee shall pay the share transfer price to the bank account designated by the transferor on the same day, and issue the share transfer price to the transferor to the bank of the designated account of the transferor before the parties complete the final transfer procedures of the target shares.