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Ele.me stakeholder confirms Alibaba talks, purchase could come this week

Published 02/27/2018, 10:49 AM
© Reuters.  Ele.me stakeholder confirms Alibaba talks, purchase could come this week
BABA
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  • An Ele.me stakeholder confirms Alibaba’s (NYSE:BABA) talks to buy the food delivery startup.
  • In a regulatory filing, Beijing Hualian Department Store Co. says Alibaba has “recently contacted all the owners of [Ele.me owner] Rajax and expressed its intention to buy.”
  • Beijing Hualian, which holds a 2% stake, says no agreement has been signed yet with “issues like price, timing, volume, and the method of any equity transfer” under discussion.
  • Two sources tell Reuters that Alibaba plans to buy the entire Ele.me stake this week.
  • Alibaba shares are down 2.3%.
  • Previously: Bloomberg: Alibaba buying Baidu's stake in delivery startup (Feb. 26)
  • Now read: Alibaba: Why Is It The World's Most Shorted Stock?


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