Alibaba rival JD.com eyes major investment in Indonesia's Tokopedia
It's in early talks to pump in hundreds of millions of dollars, spurring its expansion into South-east Asia's biggest economy
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Singapore
JD.COM Inc, Alibaba's fiercest rival in Chinese e-commerce, is in talks to make a major investment in Indonesia's PT Tokopedia to speed its expansion into South-east Asia's largest economy, people familiar with the matter said.
JD is in early-stage negotiations to invest hundreds of millions of dollars in one of Indonesia's largest online marketplaces, one of the people said, asking not to be identified. JD's potential investment may propel Jakarta-based Tokopedia past US$1 billion in valuation, another person familiar with the deal said.
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