Source: The Moscow Guardian 18/01/2017
Russia's largest bank is planning a potential joint venture with Chinese e-retail giant Alibaba, the Kommersant newspaper reported Wednesday.
Representatives
from state-owned Sberbank and the Alibaba Group have already met this
month to discuss the potential project, the newspaper reported, citing
an unnamed source.
Any
joint venture would see Sberbank control at least a 50 percent stake
and provide much of the financial investment, the source said. In
return, the Alibaba group would use its existing cross-border
infrastructure and delivery systems across Russia neighboring countries.
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