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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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.