Alibaba Forms Joint Venture With Russian Fund Megafon And Mailru

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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 Mail.ru, 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 Mail.ru for a 24 percent stake in AliExpress Russia.




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