
Lazada Group has denied rumour that it is in talks with Central Group and Charoen Pokphand (CP) to sell its stake in Lazada Thailand.
"Lazada Group is not considering any divestment of our business in Thailand and is not in discussion with any investors on this topic. Any rumors stating otherwise are untrue,” according to Lazada spokesperson.
Earlier an industry source familiar with Alibaba and the e-commerce industry said Alibaba is in talks with Central Group and CP to sell its stake in Lazada Thailand, following intensifying competition in the local market.
"There are several rumours Alibaba would like to sell Lazada as the e-marketplace segment faces intense competition from Shopee and fast-rising TikTok," said the source.