Alibaba nears deal to merge S.Korean operations with E-Mart in $4 bn deal: Report

Alibaba is in talks to merge its South Korean operations with E-Mart's e-commerce platform, valued at $4 billion, though talks are ongoing and may take longer.

By Reuters | Updated: Dec 26, 2024, 12.47 PM IST

Reuters

Logo of Alibaba Group is seen at its office building in Beijing, China

Alibaba Group Holding is nearing a deal to merge its South Korean operations with E-Mart's e-commerce platform in a transaction that would value the new joint venture at about $4 billion, Bloomberg News reported on Thursday.

Talks are still ongoing and an agreement may take longer to be reached, the report added, citing people familiar with the matter.

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