DALIAN, China -- Alibaba Group Holding will convert China's largest online meal delivery company into a full subsidiary, the e-commerce operator said Monday, acquiring the remaining shares for around $5 billion.
Alibaba already owns 43% of Ele.me, whose name plays on a Chinese phrase for "hungry yet?" The deal would value the startup, officially known as Shanghai Lazhasi Information Technology, at $9.5 billion.
