Alibaba takes steps offline

|About: Alibaba Group Holding Limited (BABA)|By:, SA News Editor

Deepening its integration with brick-and-mortar stores, Alibaba (NYSE:BABA) is leading a $2.6B bid to privatize Intime Retail Group (OTC:INTIY), a leading department store chain with 29 outlets and 17 shopping malls across China.

In 2015, Alibaba acquired a 20% stake in Suning, which operates over 1,600 Chinese stores that sell consumer electronics and appliances.

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