INSUBCONTINENT EXCLUSIVE:
Alibaba Group enters Pakistan's ecommerce market with Daraz acquisitionFRANKFURT: Alibaba Group has bought the
financial details.Daraz, founded in Pakistan in 2012, operates online marketplaces in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal
The unit will continue to operate under the same brand following the sale to Alibaba, Rocket said
It is not for the first time that Chinese ecommerce giant is entering into Pakistani market as some media reports say.In March, Ant
Financial Services Group, an affiliate of Alibaba, acquired 45 percent stake worth around Rs20 billion in a subsidiary of Norwegian Telenor
agreement with Ant Financial Services Group in Pakistan, where Ant Financial will invest $184.5m for a 45 percent stake in Telenor
said.It remains to be seen when the Rocket Internet deal terms are announced, what if any forex impact, it will have by way of any of the
