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Alibaba said to merge South Korea’s E-Mart in $4b deal
Alibaba Group and South Korea’s E-Mart Inc. are reportedly in advanced discussions about merging their online shopping assets, creating a joint venture valued at around US$4 billion.
This deal aims to expand Alibaba’s reach across South Korea’s competitive ecommerce sector.
Sources familiar with the situation say an agreement could be finalized and announced as early as this week, although ongoing talks may delay the official timeline.
Both companies have not yet commented on the negotiations.
Recent Alibaba developments
| Timeline |
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19-Dec-2024 🤖 Alibaba splits AI team to focus on consumers, businesses
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17-Dec-2024 🛍️ Alibaba to sell Intime department store at $1.3b loss
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17-Dec-2024 🚀 Alibaba launches $150m fund for AI startups
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16-Dec-2024 🛒 Alibaba said to sell its department store chain Intime Retail
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15-Dec-2024 🤖 Alibaba, Tencent, Huawei, other execs join China’s AI committee
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