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Alibaba buys stake in online retail biz

The e-commerce giant Alibaba has agreed to pay almost 700 million dollars for a minority stake in the Chinese retail group Intime, to form an “online-to-offline” joint retail business. http://www.nytimes.com/2014/04/01/business/international/alibaba-to-buy-stake-in-chinese-retail-group.html?ref=technology

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