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Alibaba's biggest overseas investment to date is a $1 billion ecommerce deal

April 13, 2016 - Uncategorized



Alibaba Group Holding Ltd. is making its largest overseas investment with a $1 billion deal for control of Lazada Group SA, taking the Chinese ecommerce giant to Southeast Asia and closer to a goal of shedding its home-market reliance.

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China’s largest online emporium will pay $500 million for new shares in the closely held company and purchase an equal amount from existing investors, Alibaba said in a statement. Investors selling include Germany’s Rocket Internet SE, British supermarket chain Tesco Plc and Investment AB Kinnevik. Read more…

More about Jack Ma, Business, China, Southeast Asia, and Ecommerce

Source: Mashable

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