HANGZHOU, CHINA - JULY 13: The employees ride bicycles at Alibaba Xixi Park on July 13, 2017 in Hangzhou, Zhejiang province of China. Alibaba Xixi Park, also known as Taobao City, is the headquarters of the well-known internet Co Alibaba group, with more than 12 thousand employees working here. Is located in Yuhang district of Hangzhou City, Wenyi Road No. 969. In 2016, Alibaba officially announced that it has become the world's largest retail trading platform. Wang He/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
Alibaba Group Holding Ltd is in talks to make a major investment in Indonesia’s PT Tokopedia, people familiar with the matter said, potentially scoring a second deal to accelerate its expansion into South-East Asia’s largest economy.
The Chinese company is in negotiations to lead a funding round in Indonesia’s largest online marketplace of up to US$500mil (RM2.13bil), one of the people said, asking not to be identified because the deal is private. Alibaba, which already controls Lazada Group SA, would be joining existing backers SoftBank Group Corp and Sequoia Capital if the financing goes through.
Limited time offer:
Just RM5 per month.
