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China's Alibaba to Invest $100 Million in Russian e-Commerce JV
China’s Alibaba and Russia’s RDIF sovereign wealth fund will each invest $100 million in a Russian joint venture, RDIF said in a statement
Thursday, June 13, 2019

China’s Alibaba and Russia’s RDIF sovereign wealth fund will each invest $100 million in a Russian joint venture, RDIF said in a statement.

RDIF also has an option to buy a further $194 million worth of shares in the joint venture from Alibaba, it said after definitive documents for the joint venture were signed in Moscow.

Russian mobile phone operator Megafon will sell a stake of 9.97% in internet group Mail.ru to Alibaba and get 24.3% in the JV, while Mail.ru will contribute its Pandao e-commerce business to the JV and $182 million in cash.

Reuters

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