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Alibaba to buy remaining shares in food delivery app Ele.me

Mimi Sabreena 3:06:00 PM Informasi

BEIJING (April 2): Chinese e-commerce giant Alibaba Group Holding Ltd said on Monday it would buy the remaining shares of Ele.me, a major platform in China's food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers.

Alibaba and affiliate Ant Small & Micro Financial Services Group Co Ltd currently own approximately 43% of Ele.me, and the latest deal will value the startup a US$9.5 billion, said Alibaba in a statement.

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