In 50 Words: Alibaba to invest $2b in Turkey

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In 50 Words: Alibaba to invest $2b in Turkey

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Alibaba plans to invest US$2 billion in Turkey, citing confidence in its economic fundamentals. The announcement was made by Alibaba president Michael Evans, according to its Turkish unit Trendyol.

The Chinese ecommerce firm owns a 76.1% stake in Trendyol, which is Turkey’s largest ecommerce platform in terms of net sales.

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