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Alibaba to buy controlling stake in Lazada for about US $ 1bn

13 April 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

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REUTERS: Chinese e-commerce giant Alibaba Group Holding Ltd said yesterday it agreed to buy a controlling stake in online retailer Lazada for about US $ 1 billion to expand its platform into Southeast Asia.


Alibaba would invest about US $ 500 million in newly issued Lazada shares and acquire shares from shareholders of Lazada for a total of about US $ 1 billion.
Lazada operates in Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam. In a separate announcement, Britain’s biggest supermarket operator Tesco PLC said it agreed to sell an 8.6 percent stake in Lazada to Alibaba for US $ 129 million.

 

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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.