• Wednesday, August 10, 2022

Asia

Alibaba planning to buy Rocket Internet’s Pakistan unit

Alibaba Group Executive Chairman Jack Ma (JUAN MABROMATA/AFP/Getty Images)

By: Keerthi Mohan

China-based Alibaba Group Holding Ltd is reportedly mulling the possibility of acquiring Rocket Internet’s online retail unit in Pakistan. This would help Alibaba expand its reach in the South Asian country, a person with knowledge of the matter was quoted as saying by Bloomberg. Alibaba is currently negotiating a price for Daraz, Rocket Internet’s retail unit that deals with shoes and fashion. The discussions are in an early stage and no decisions have been made so far, the insider who did not want to be identified said. Pakistan has 30 million active Internet users, and e-commerce is going to be a thriving…

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