Alibaba Forms Joint Venture With Russian Fund Megafon And Mailru


VLADIVOSTOK, Russia – China’s largest e-commerce firm, Alibaba Group Holding Ltd, has set up a joint venture with the Russian Direct Investment Fund, mobile operator Megafon and internet group, the companies said on Tuesday.

Under the deal, signed during the Eastern Economic Forum,

Alibaba will contribute AliExpress Russia to the JV, while Megafon will swap a 10 percent stake in for a 24 percent stake in AliExpress Russia.

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