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Aya Lin · · 1 min readIn brief: Alibaba’s reported acquisition of NetEase Kaola falls through, sources say
- Alibaba’s rumored acquisition of Kaola, NetEase’s cross-border ecommerce business, has reportedly fallen through after the two companies failed to agree on details, according to a Chinese media report citing people familiar with the matter, TechNode reported.
- The deal was said to also include NetEase Music and NetEase’s research and development unit.
- The talks broke down because NetEase was not satisfied with the price, an unnamed source said.
- The failure opens possibilities for Alibaba rival Pinduoduo, which is trying to tap higher-tier city markets.
Editing by Charmaine de Lazo
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