The latest news is that negotiations between the two parties ended in the afternoon, and Ding Lei, chairman of the board of directors and CEO of NetEase, finally vetoed the acquisition.
Sun Hongchao, author of Tencent News
On the afternoon of August 20, there was news that discussions between Alibaba and NetEase about the acquisition of NetEase's cross-border e-commerce platform NetEase Koala have already broken down. Earlier, on the 13th of this month, there were rumors that Alibaba would buy NetEase Koala with 2 billion US dollars in cash. After the acquisition, it would reach integration with Tmall International, a cross-border e-commerce platform owned by Alibaba.
Regarding the latest rumor, Alibaba still claims that it will not comment on the market rumor, while NetEase Koala has yet to respond.
Before the news broke, some sources said that Alibaba's $2 billion acquisition target this time included NetEase Cloud Music and NetEase Research Institute in addition to NetEase Koala. The latest news is that negotiations between the two parties ended in the afternoon, and Ding Lei, chairman of the board of directors and CEO of NetEase, finally vetoed the acquisition.
Editor/Grace