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Alibaba.com may launch joint venture in India

Category :International Sub Category :Americas
2009-08-04 00:00:00
   Views : 306

Washington, Aug 4 - China's top e-commerce company, Alibaba.com Ltd. is considering establishing a joint venture in India to provide business-to-business e-commerce services, the Wall Street Journal reported.

The new Indian company will be similar to the joint venture Alibaba.com set up with Japanese mobile-phone and Internet company Softbank Corp, the leading US financial daily said citing Chief Executive David Wei. The Japanese joint venture caters to local small and midsize businesses.

'The most likely partners to be involved in the Indian JV are those that we are now cooperating with,' Wei was quoted as saying in Shanghai. 'I also don't want to pursue a majority stake in the JV.'

'We are currently talking with them, it will definitely be a joint venture, and Alibaba does not seek to be a controlling stakeholder,' he said.




Author :Indo Asian News Service



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