Ron Burgundy Posted April 12, 2016 Share Posted April 12, 2016 By Paul Carsten and Rama Venkat Raman BEIJING/BENGALURU (Reuters) - Alibaba Group Holding Ltd has agreed to buy a controlling stake in Southeast Asian online retailer Lazada Group for about $1 billion, its biggest deal overseas, as the Chinese ecommerce giant seeks fertile new turf while growth slows at home. Lazada, founded by Germany's Rocket Internet in 2012, is headquartered in Singapore and also operates in Malaysia, Indonesia, the Philippines, Thailand and Vietnam. "Southeast Asia has a lot of overlap with China in terms of consumer habits, intra-regional trade and tastes," said Duncan Clark, chairman of investment advisory firm BDA China and author of a book on Alibaba. View the full article Quote Link to comment Share on other sites More sharing options...
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