Alibaba Sets Up $2B JV With Kremlin-Backed Fund, Billionaire Usmanov’s Mail.ru

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China’s e-commerce giant Alibaba Group Holding is setting up a US$2 billion joint venture with Kremlin-backed fund, telecom company MegaFon and billionaire Alisher Usmanov’s internet firm Mail.ru Group to expand its e-commerce business in Russia, according to a joint statement released yesterday.

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