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Alibaba turns sights to brick-and-mortar
Chinese e-commerce giant Alibaba is making a play for a department store and mall operator in China. The company made a $2.6 billion bid for Intime Retail, with a plan to take it private, reported the New York Times. Alibaba already owns a 28% stake in the company, which operates 29 department stores and 17 shopping malls in China, mainly in first- and second-tier cities.

