Alibaba serves up takeover of Ele.me

Alibaba and its fintech arm Ant Financial announced it will fully acquire Ele.me, one of the leading online food delivery service providers in China, at a cost of US$9.5 billion, Yicai.com reported. Meituan.com, Ele.me’s major competitor, appeared unruffled by the announcement, responding by offering thanks to “an old friend,” and welcoming the arrival of a “new mate.” […]