HONG KONG -- China's Alibaba Group Holding has acquired cross-border e-tailer Kaola for roughly $2 billion as the country's No. 1 online retailer continues to solidify its top position against growing competition.
"Alibaba is confident about the future of China's import e-commerce market, which we believe remains in its infancy with great growth potential," said Alibaba CEO Daniel Zhang in a statement on Friday.
