NetEase sells Kaola unit to Alibaba for $2 billion

(Reuters) - NetEase Inc said on Thursday it agreed to sell its Chinese e-commerce business Kaola to Alibaba Group Holding Ltd for $2 billion. Alibaba intends to let Kaola continue to operate independently under its current brand, NetEase said in a statement. (Reporting by Ismail Shakil in Bengaluru; Editing by Peter Cooney)

The post NetEase sells Kaola unit to Alibaba for $2 billion appeared first on Firstpost.

from Firstpost