Alibaba Invests Billions In Electronics Retail Giant

By | August 10, 2015

Scalper1 News

The battle for the hearts and wallets of Chinese consumers got more intense Monday with Alibaba Group (BABA) making a wide-ranging deal that takes aim at JD.com (JD). Alibaba, China’s No. 1 provider of e-commerce platforms and services, will invest $4.63 billion for a 19.99% stake in Suning Commerce Group, one of the largest consumer electronics retail chains in China. It has more than 1,600 stores in 289 cities. The move puts Alibaba in more Scalper1 News

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