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Alibaba buys controlling stake in Lazada for USD 1 bln

2016-04-12 08:43:00| Telecompaper Headlines

(Telecompaper) Alibaba has agreed to acquire a controlling stake in Indonesian online retailer Lazada for about USD 1 billion. Alibaba said it will pay USD 500 million for new shares in Lazada and also purchase stock from existing investors. Lazada is currently controlled by Rocket Internet.

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