What does Alibaba’s takeover of Ele.me mean? This is what China is saying

This week has been brimming with rumors on Alibaba’s takeover of food delivery platform Ele.me. Media reports stated that Alibaba plans to purchase food delivery platform Ele.me for US$9.5 billion. Both Alibaba and Ele.me have declined to comment on the rumors but we know one thing: something is definitely cooking between the pair.

Beijing Hualian Department Store, a shareholder in Hong Kong-based Rajax which owns and operates Ele.me, announced today that Rajax is indeed talking to Alibaba about increasing its stake in Ele.me. However, the deal is still not settled:

“Key issues like price, timing, volume and the method of any equity transfer are still under discussion,” Hualian told Reuters.

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