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Alibaba nears deal to merge S.Korean operations with E-Mart in $4 billion deal, Bloomberg News reports

Published by Global Banking and Finance Review

Posted on December 26, 2024

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(Reuters) - Alibaba Group Holding is nearing a deal to merge its South Korean operations with E-Mart's e-commerce platform in a transaction that would value the new joint venture at about $4 billion, Bloomberg News reported on Thursday.

Talks are still ongoing and an agreement may take longer to be reached, the report added, citing people familiar with the matter.

(Reporting by Mrinmay Dey in Bengaluru; Editing by Abinaya Vijayaraghavan)

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