News Snapshot:
News Alibaba buys out SunArt hypermarket chain in China The purchase of SunArt is set to boost Alibaba's online grocery shopping business. It comes as the coronavirus pandemic has pushed more and more Chinese consumers to buy groceries online. Chin ese e-commerce giant Alibaba has announced the $3.6 billion (€3 billion) purchase of a controlling stake in SunArt , the affiliate of F rench shopping giant Auchan in mainland China. SunArt was created by Auchan in 2000 with Ruentex Group and joined in an "alliance" with Alibaba in 2017. It now runs hundreds of hypermarkets on the mainland. With the...
