Posted June 28, 2018 14:09:36A telegraph operator in southern England is selling the company that owns it for $500 million.

The White Castle Corporation, a cable company based in Scotland, bought the company for £180 million in 2015.

The deal closed on Friday.

The sale is part of a wider deal involving Telex, a subsidiary of China’s Alipay.

The news comes a day after China’s Alibaba Group Holding Ltd bought a controlling stake in China’s most valuable media company, Weibo, for $2.6 billion.