Alibaba nears deal to merge S.Korean operations with E-Mart in $4 bln deal, Bloomberg News reports
ReutersDec 26, 2024 6:35 AM
Dec 26 (Reuters) - Alibaba Group Holding 9988.HK is nearing a deal to merge its South Korean operations with E-Mart's 139480.KS 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.
(Reporting by Mrinmay Dey in Bengaluru; Editing by Abinaya Vijayaraghavan)
((mrinmay.dey@tr.com; +91 7362903319;))
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