Business Today

SOFTBANK MAY INVEST IN ALIBABA UNIT

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Japan’s SoftBank Group may invest in a new unit of Alibaba Group Holding that will merge the Chinese e-commerce giant’s fooddelive­ry arm, Ele.me, with its Yelplike company Koubei. According to the Wall Street Journal, the new unit could be valued at $25 billion. SoftBank’s Vision Fund is reportedly in talks to add $3 billion towards Alibaba’s fundraisin­g goals.

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