alibaba to buy china mall operator
Tuesday 22 July 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

In $2.6 bn plan

Alibaba to buy China mall operator

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAlibaba to buy China mall operator

Alibaba is China's dominant player in online commerce
Hong Kong - AFP

Chinese e-commerce titan Alibaba will take control of domestic department store Intime through a $2.6 billion privatisation scheme, the companies said Tuesday, sending shares of the mall operator surging.

Alibaba, and Intime founder Shen Guojun have together offered to pay HK$10 per share to buy the shares they do not already own of the Hong Kong-listed chain.

The deal will increase Alibaba's stake from 28 percent to 74 percent after it first invested $692 million in the firm in 2014.

News of the deal sent Intime's shares soaring 35.7 percent to HK$9.54 in Hong Kong Tuesday.

The maximum cash required for the proposal is expected to be HK$19.8 billion ($2.6 billion), the statement said.

The deal will see Alibaba expand further into physical stores, which founder Jack Ma envisions integrating with the company's online platforms and logistics network.

Intime operates 29 department stores and 17 shopping malls throughout China.

The move came after Ma -- China's richest man -- met US President-elect Donald Trump in New York Monday to discuss how Alibaba can help create US jobs.

Alibaba is China's dominant player in online commerce, with its Taobao platform estimated to hold more than 90 percent of the consumer-to-consumer market, while its Tmall platform is believed to have more than half of business-to-consumer transactions.

The deal shows department store chains "are still relevant and of value" to e-commerce players, Catherine Lim, analyst at Bloomberg Intelligence told Bloomberg News.

"We could be seeing renewal of a sunset industry," she added.

Alibaba chief executive Daniel Zhang said in the statement that “bricks-and-mortar businesses will be able to create value for consumers if they are integrated with the power of mobile reach”.

Nearly 80 percent of its business comes from mobile sales as of September, Alibaba said in the statement.

The offer represented a 54 percent premium over the two-month average closing price before shares were suspended in December.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

alibaba to buy china mall operator alibaba to buy china mall operator

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 06:04 2018 Thursday ,18 January

Netanyahu: US embassy could move

GMT 06:36 2017 Friday ,03 March

Made one mistake in Al Ahly-Dakhlia match

GMT 07:49 2017 Sunday ,17 December

UAE delegation visits Nest Festival 2017

GMT 22:34 2017 Thursday ,30 November

April21st-May21st

GMT 00:53 2017 Friday ,08 December

Schulz says EU allies urged him

GMT 21:45 2013 Sunday ,01 September

Toshiba opens store on Tejuri.com

GMT 14:55 2016 Tuesday ,06 September

After hacking, Jones makes proud return to Twitter

GMT 13:02 2017 Monday ,16 January

Samsung Note 7 probe finds batteries caused fires

GMT 06:36 2017 Monday ,30 January

New wave of robots set to deliver the goods

GMT 14:45 2016 Saturday ,22 October

China names Marcello Lippi as national team coach

GMT 09:10 2012 Saturday ,31 March

The Sony Radio Awards 2012 nominations

GMT 00:04 2012 Wednesday ,03 October

Expanding the Prophet's Mosque

GMT 13:45 2012 Sunday ,01 April

4 Ways to sleep better
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle