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Alibaba close to signing joint venture with Russian partnersND
Nikkei Asian Review, Monday September 3 2018
China’s version of a “digital silk road” across Eurasia is beginning to take shape, with Alibaba now in “advanced stage negotiations” to form a joint venture ecommerce company with Russian partners. According to sources involved in the deal, Alibaba is close to agreeing a partnership with Russian internet company Mail.ru, and the Russian Direct Investment Fund, the sovereign wealth fund. The involvement of the RDIF indicates the level of official backing for the plans. Last December, the head of the RDIF Kirill Dmitriev told Russian President Vladimir Putin that the fund planned to soon announce “investment in a number of our internet platforms with the aim of expanding their operations abroad as well as investement with Alibaba in internet logistics infrastructure in Russia”. Last Autumn, while sharing a stage with Mr Putin, Alibaba executive chairman Jack ma said that he thinks “Alibaba should join forces in developing Russia”.
For the full story see: http://asia.nikkei.com