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Alibaba invests USD 1 bln to raise stake in Lazada

2017-06-28 13:51:00| Telecompaper Headlines

(Telecompaper) Alibaba Group is investing another USD 1 billion in the southeast Asia e-commerce platform Lazada in order to increase its stake to 83 percent from 51 percent. The deal gives Lazada valuation of USD 3.15 billion, much higher than when Alibaba first bought its controlling stake for USD 1 billion in April 2016. Alibaba is acquiring the additional shares in the company from existing Lazada shareholders.

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