Alibaba Announces Buyout Of Rival Netease Kaola

Alibaba will wrap up its deal to buy e-commerce rival Netease Kaola this week for $2BLN dollars. A spokesman for the Hangzhou based Alibaba said the buyout would be made with a combination of cash and equities. Netease will hold onto its T-Mall import/export niche as well as its own branding. It is not expected to lay off staff and is expected to continue to operate independently in the short term.

 

Video Source: Money Talks, ICS