Mail.ru Group, Alibaba negotiate joint venture - report

News Broadband Russian Federation 27 AUG 2018
Mail.ru Group, Alibaba negotiate joint venture - report

Russian internet company Mail.ru Group is in talks with the China-based online retailer Alibaba on the launch of a joint venture, reports Tdaily.ru. The new company would focus on online sales, giving Alibaba an opening in the Russian market. It is expected that the Russian Direct Investment Fund (RDIF) also plans to take part in the deal.

Multiple Russian news agencies reported that the negotiations are at an advanced stage. Alibaba previously planned to launch a joint venture with Sberbank in 2017, but the deal was never closed.


Categories:

Internet

Companies:

Alibaba,  Mail.ru

Countries:

Russian Federation

Tags:

Cooperations & alliances

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