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Alibaba partners Mail.ru, Megafon to expand Russian business

Tuesday 11 September 2018 | 16:34 CET | News
Chinese e-commerce giant Alibaba Group has agreed to found a joint venture with the Russian Direct Investment Fund (RDIF), Russian mobile operator Megafon and internet company Mail.ru Group. The deal agreed at Russia's Eastern Economic Forum will see Alibaba own 48 percent of the new company AliExpress Russia, while the three Russian entities will have a combined 52 percent stake in the e-commerce platform after contributing cash, shares and other assets.

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Categories: Internet
Companies: Alibaba / Mail.ru / MegaFon
Countries: Russian Federation
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