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Alibaba Group to pay US$3.6 billion to take management of China’s greatest hypermarket operator from French billionaire Mulliez household – NEWPAPER24

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Alibaba Group to pay US$3.6 billion to take management of China’s greatest hypermarket operator from French billionaire Mulliez household

2020-10-19 00:12:36

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Alibaba Group is taking management of China’s largest hypermarket operator Solar Artwork Retailing from the French billionaire Mulliez household, boosting its stranglehold on e-commerce because the Covid-19 pandemic intensified efforts to combine on-line and offline buying.Alibaba, which runs Taobao, the world’s largest on-line market, can pay HK$28 billion (US$3.6 billion) to boost its efficient stake within the Hong Kong-listed group to 72 per cent, in line with an organization assertion. It can impact the…

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