Alibaba Group to buy e-commerce unit Kaola from NetEase for $2b

Alibaba Group to buy e-commerce unit Kaola from NetEase for $2b

Employees and visitors take selfie photographs in front of Alibaba Group Holding Ltd. signage at the company's headquarters in Hangzhou, China, on Friday, Sept. 8, 2017. Photographer: Qilai Shen/Bloomberg

Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming company NetEase Inc for $2 billion, adding a platform that specializes in supplying luxury goods from abroad to Chinese consumers.

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