Ma: Alibaba calculates investment in JV with Russia’s Sberbank

DAVOS, Switzerland, Jan 19 (PRIME) -- Chinese giant Alibaba Group is calculating how much investment an e-commerce joint venture with Russia’s biggest bank Sberbank will require, Alibaba Group’s founder and CEO Jack Ma told PRIME on Thursday.

The joint venture is still at a project stage, Ma said, adding that the initiative is being discussed and the volume of investment will be clear later.

Mass media reported on Wednesday that Sberbank and Alibaba Group could set up the joint venture by July, which the bank would finance and control and to which the Chinese company would contribute its cross-border trade in Russia and the CIS, possibly, in Turkey and several countries of Eastern Europe.

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