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الاقتصادية
Alibaba proposes $1.5B for Chinese grocery
Alibaba Group has offered a $1.5 billion acquisition bid for China's Pupu, a company specialized in grocery delivery, in an effort to outpace their competitor Mytuan, which had previously acquired Ding Dong for $717 million. This bid comes amid increasing competition among China's largest e-commerce giants, as Alibaba and Mytuan strive for dominance over the local commerce sector and fresh produce, amid declining stock performances due to a price war among major market players. Pupu is one of the leading companies in China's independent online grocery market, generating annual revenues exceeding 30 billion yuan.
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