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China's Alibaba Group Invests $2 Billion More In Lazada

By Hong Kong Newsroom
Nikkei Markets
HONG KONG (Mar 19) -- Alibaba Group Holding said it will invest an additional $2 billion in online retailer Lazada Group as the Chinese e-commerce company steps up efforts to shore up its presence in the relatively untapped Southeast Asian market.

"With a young population, high mobile penetration and just 3% of the region's retail sales currently conducted online, we feel very confident to double down on Southeast Asia," Lazada Chairman Lucy Peng said in a statement.

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