Alibaba founder buys up two more French vineyards

Chinese billionaire Jack Ma, the founder of e-commerce giant Alibaba, has snapped up two historic French vineyards for nearly 12 million euros (13.56 million US dollars). Ma bought the Chateau Guerry and the Chateau Perenne, dating back to the 18th century, in the heart of the fabled Bordeaux wine-growing region. Their owner, French wine magnate Bernard Magrez, confirmed the sale to AFP late Thursday after the transaction was reported by the British specialised magazine Decanter.