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Alibaba sets up a $2 billion venture with Russia’s Mail.ru Group

(Bloomberg)—Alibaba Group Holding Ltd. is setting up a $2 billion joint venture with billionaire Alisher Usmanov’s internet services firm Mail.ru Group Ltd. to strengthen the Chinese company’s foothold in Russian e-commerce. Asia’s most valuable company signed an accord Tuesday with Mail.ru to merge their online marketplaces in the nation of more than 140 million people. […]

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