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Business trends

Alibaba and eBay try their luck in Turkey's e-commerce market

Amazon set to join fray as companies try to reach country's youthful consumers

Chinese e-commerce company Alibaba will buy a roughly 75% stake in Turkey's largest web fashion retailer, Trendyol.

ISTANBUL -- Turkey has caught the eye of global e-commerce players, who like the size and growth potential of its market.

Trendyol, Turkey's largest web-based fashion retailer, announced on June 28 that Chinese e-commerce leader Alibaba Group Holding will invest in the company. The value and size of the stake purchase have not been disclosed but according to several market players, Alibaba will spend about $1 billion to buy a roughly 75% interest in Trendyol from the European Bank for Reconstruction and Development and several U.S. investment funds.

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