September 04 - 11:09
Alibaba closes in on $2 billion NetEase acquisition
Alibaba is close to tying up an agreement to acquire NetEase’s cross-border e-commerce unit in a deal worth around $2 billion. That's according to a Tech Crunch report citing Chinese tech news website 36kr that says an announcement is due to be made this week. Kaola will continue to run independently, but would become part of Alibaba’s Tmall Global, said the report.
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