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News ServiceForexMarket AnalysisProducts and Services
11/06/2019
15:13
Alibaba/Mail.ru announced two CEOs

Alibaba Group and Mail.ru Group announced about the election of two CEOs to provide management of JV AliExpress in Russia, as it was informed.

Alibaba Group nominated Liu Wei, AliExpress head in Russia; Mail.ru Group - D.Sergeev, first deputy CEO. They are to take offices after the confirmation and execution of all transactions.

JV is held by Alibaba Group, MegaFon, Mail.ru Group and RFPI.

The working interest will be held by the Russian party; BOD includes representatives of RFPI, Alibaba Group, MegaFon and Mail.ru Group.

June 5, 2019 FAS approved formation of the largest JV in the sphere of social commerce in Russia/CIS aimed to integrate the key Russian consumer Internet/ecommerce-platforms.

AliExpress was opened in 2010 as a global retail site providing the direct sale of goods to the consumers.

Alibaba Group is a Chinese public company operating in the Internet commerce sector. It is keeping B2B web portal of Alibaba.com. It provides execution of trade operations between the companies and retail online trade.

The 2018-revenues reached $39.9bn.
Mail.Ru Group Limited (MAIL.IL international brand) is the largest Internet Holding in Russia. It keeps several subs including Russian operating companies.

The Company is an owner of the leading post-mail service, social networks and MMO-games. Mail.Ru Group is keeping the largest finder, Delivery Club, Pixonic, ESforce, MAPS.ME; the working interest in OpenStreetMap and GeekBrains and minority in some Internet companies in Russia, CIS and Israel.

"AK&M", 12:27, 11.06.2019 1251 AKM,COR,ECO0

 

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