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Alibaba bets US$2.9b on China's top hypermarket player

It's Alibaba's latest foray into old-school shopping; seeks to shake up US$4 trillion brick-and-mortar retail arena 

Sun Art Retail Group operates about 400 hypermarkets under the Auchan and RT-Mart banners. Auchan and RT-Mart have the biggest slice of China's hypermarket business with about a 15 per cent share.

Hong Kong

ALIBABA Group Holding Ltd agreed to buy a stake in China's largest operator of Wal-Mart-style hypermarkets for about US$2.9 billion, making its latest bet on the evolution of brick-and-mortar retail.

Alibaba is acquiring 36 per cent of Sun Art Retail Group Ltd, which

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