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Alibaba buys stake
Source: Shanghai Daily |
April 7, 2014, Monday
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Print Edition
Print Edition
ALIBABA Group announced it will invest HK$5.37 billion (US$692 million) in Intime Retail Co for a 9.9 percent stake in the Chinese department store operator.
The two companies will form a joint venture to develop shopping malls, department stores and supermarkets as Alibaba, China’s largest e-commerce company, tries to integrate online and offline shopping.
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