Groupon surges on report it’s seeking a buyer

Groupon surges on report it’s seeking a buyer

Groupon gained almost 11 percent Monday following a weekend report that the company is seeking a buyer. Shares closed at $4.83 after jumping as much as 13 percent to $4.96. That makes for the stock’s best day since February 2017. Recode reported Saturday that the company, which pioneered local online deals, is considering a sale. Alibaba, which took a nearly 6 percent stake in the the company in 2016, could step in as a buyer,…

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Alibaba leads consortium in $1.4 billion deal for stake in Chinese courier ZTO

Alibaba leads consortium in $1.4 billion deal for stake in Chinese courier ZTO

Alibaba on Tuesday said it has led a consortium of investors to buy about 10 percent of Chinese courier ZTO Express (Cayman) for $1.38 billion, as part of the e-commerce firm’s push into offline services. The consortium includes Alibaba’s majority-owned logistics affiliate Cainiao Smart Logistics Network, Alibaba, and ZTO said in a joint statement without disclosing the identity of other investors. They said they expect the deal to close in June. The investment would be…

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Alibaba injects pharmacy assets into health-care unit in $1.4 billion deal

Alibaba injects pharmacy assets into health-care unit in $1.4 billion deal

Chinese e-commerce giant Alibaba will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion ($1.35 billion), the firm said in a statement on Tuesday. Alibaba Health Information Technology will buy Ali JK Nutritional Products, which controls sales of medical devices, health-care products, adult products, and health-care services on Alibaba’s Tmall platform. The deal will see parent Alibaba receive newly issued shares in Ali Health, taking its…

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Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz

Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz

Alibaba has bought Pakistani e-commerce firm Daraz, as the Chinese tech giant looks to increase its presence in South Asia. Financial details of the transaction, which was announced on Tuesday, were undisclosed. Daraz, founded in 2012, is backed by European tech incubator Rocket Internet. It operates in Bangladesh, Myanmar, Sri Lanka and Nepal as well as Pakistan. The deal marks another foray for billionaire entrepreneur Jack Ma’s Alibaba into the South Asian market. The e-commerce…

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