Alibaba takes big step offline with US$2.6b Intime deal
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ALIBABA Group Holding Ltd is leading a bid to take department store chain Intime Retail Group Co private for as much as US$2.6 billion, as China's largest online retailer deepens its integration with brick-and-mortar stores.
The deal strengthens Alibaba's burgeoning foothold in physical retail as it seeks growth beyond a slowing online business. Control of Intime will also allow the e-commerce giant to explore ways to modernise a US$4.5 trillion industry that hasn't adapted well to online shopping.
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