Alibaba is in “advanced stage negotiations” to form a joint venture ecommerce company with Russian partners, as China’s vision of a “digital silk road” across Eurasia takes shape.
Russian officials and other people involved in the deal said Alibaba was close to agreeing a partnership with Russian internet company, Mail.ru, and the Russian Direct Investment Fund, the sovereign wealth fund. The involvement of RDIF indicates the level of official backing for the planned venture.
“This is an important investment and it is very much part of the digital silk road,” said one Russian participant in the planned deal.
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