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Alibaba to take stake in China operations of Germany’s Metro
- Thursday | 14th February, 2019
HONG KONG/DUESSELDORF (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd is in talks with Germany’s Metro about taking a stake in the German wholesaler’s China operations, three sources told Reuters on Thursday. Metro and Alibaba have already partnered in online retail in China. Metro has 95 stores in China and real estate assets in major centres, such as Beijing and Shanghai, one of the sources said. Metro Chief Executive Olaf Koch said on Tuesday that the German firm was reviewing potential partnerships with local players in China. Metro and Alibaba declined to comment.
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