BABA Mulls KRW100B Investment into Korean Fashion Platform ABLY

$BABA-SW(09988.HK)$ intends to invest KRW100 billion in Korean fashion platform ABLY, sources said.

According to industry sources, ABLY is currently in investment negotiations with the Ontario Teachers' Pension Plan (OTPP), global investment firm Permira, and Corporate Venture Capital (CVC), among others. If the investment is successful, BABA will receive about 5% of ABLY's shares.