Alibaba has agreed to pay HK$22.4 billion (US$2.9 billion) to acquire a 36.16% stake in Hong Kong-listed Sun Art Retail Group, which runs 446 Auchan Retail and RT-Marts, one of the biggest hypermarket chains in China, Caixin reported. According to the announcement, Taobao China will directly hold 26.02% of the stake. The remaining 10.14% will […]