Alibaba to take $486m stake in local data firm in offline retail push

Alibaba to take $486m stake in local data firm in offline retail push

FILE PHOTO: A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song/File Photo

China’s biggest e-commerce company Alibaba Group Holding Ltd will invest $486 million for a stake in a domestic big- data firm focused on hotels and retail, as part of a push to deepen its offline presence.

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