The company is currently negotiating on the price of Rocket's retail division, Daraz. According to the source, the review was an early state and no decision was made. An Alibaba spokesperson declined to comment, and Daraz did not immediately respond to requests for comment.
This development was made after Alibaba’s Ant Financial Company decided to purchase a 45% stake in the Telenor Microloan Bank, a subsidiary of the Telenor Group, for a further US$14 billion. The project further developed mobile payments for more than 200 million people last week. And digital financial services. In other parts of Asia, Alibaba is stepping up its fight in Singapore, Amazon has started operations, and Sea Ltd.'s Shopee is expanding to win consumers.
The booming young people in Pakistan have developed the country into the fastest growing retail market in the world. Shops and e-commerce are developing together, offsetting the trend in many developing countries. Data from research institution Euromonitor International shows that due to disposable income Increasing, the Pakistani market may increase by 8.2% per year between 2016 and 2021.
Daraz said in a statement last month that Pakistan has 30 million active Internet users and brands are paying more attention to e-commerce. As part of the 'One Belt and One Road' trade initiative, Alibaba’s interest in Pakistan comes from the Chinese government to various parts of Pakistan. The financing of infrastructure projects is about 60 billion U.S. dollars.