Alibaba buys stake in Lazada for $1b
By Gao Yuan | China Daily | Updated: 2016-04-13 08:00
Online shopping major has large and growing consumer base outside China
Alibaba Group Holding Ltd has taken a controlling stake in Southeast Asian online shopping major Lazada Group SA for roughly $1 billion.
The acquisition will beef up the Chinese internet giant's presence in one of the world's most-populated areas where e-commerce is booming.
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