The new service, Tmall World, will allow overseas Chinese users to buy goods from Alibaba's Tmall brand-to-consumer retail site, the company said in a statement (Two men chat beside a logo of Alibaba (China) Technology Co. Ltd at its headquarters on the outskirts of Hangzhou, Zhejiang province May 17, 2010. - Reuters file)REUTERS
BEIJING: Alibaba Group Holding Ltd is closing in on a deal to acquire Chinese telecommunications gear maker ZTE Corp’s software subsidiary, an acquisition that could help strengthen its global internet computing business, people familiar with the deal said.
China’s leading e-commerce operator has been in negotiations to buy ZTEsoft Technology Co for months and is nearing an agreement, according to one of the people, who asked not to be identified discussing a private deal.
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