SHANGHAI: Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a US$2.6bil (RM11.63bil) privatisation scheme, the companies said, sending shares of the mall operator surging.
Alibaba, and Intime founder Shen Guojun have together offered to pay HK$10 (RM5.77) per share to buy the shares they do not already own of the Hong Kong-listed chain.
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