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Dufry, Alibaba to Form Joint Venture for China Travel Retail Markets

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Swiss duty-free retail giant Dufry AG and Alibaba Group agreed to set up a joint venture in which the Chinese online marketplace will acquire up to a 9.9 percent stake in Dufry and together develop a travel retail business in China. Alibaba will hold a 51 percent majority stake in the joint venture, with Dufry…

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