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.
China tech
Alibaba cements e-commerce dominance with $2bn Kaola acquisition
Deal gives company control over majority of China's online cross-border trade
Customers are seen at the check-out counter of a physical store of Netease's e-commerce platform Kaola in China's Henan Province. © Reuters
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