Alibaba buys majority stake in Rocket Internet's Lazada for $1b
Chinese e-commerce giant Alibaba Group has paid about $1 billion for a majority stake in Lazada, a Southeast Asia-based e-commerce platform founded by Germany's Rocket Internet, in a transaction that values the company at $1.5 billion.
According to a release, the transaction consists of a purchase of newly issued shares for about $500 million, along with the acquisition of shares from other Lazada shareholders, including Rocket. In a...
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