Alibaba is offering $1.5 billion for China’s last big independent grocer. The bidding war with Meituan is on.
Alibaba Group is offering $1.5 billion to acquire Pupu, one of China’s last independent online grocery platforms, according to Bloomberg. The bid is more than double a $600 million proposal from Sun Art Retail, the former Alibaba affiliate now backed by private equity firm DCP Capital. The move…
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