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Online shopping giant Lazada Group denies rumors that parent company Alibaba is looking to sell its Thai unit.

'Lazada Group is not considering any divestment of our operations in Thailand and is not in talks with investors on this subject,' the company said in a statement.

The Bangkok Post reported last week that Alibaba had been in talks with local conglomerates to sell its stake in its Thailand operations.

Lazada started in Singapore in 2012 and claimed to be the largest e-commerce company in Southeast Asia in 2016. Alibaba took a controlling stake in the company that year.

Alibaba has continued to invest in Lazada over the years, Alibaba invested another $230 million in May this year. A total of $7.4 billion has been pumped into the company.

The last fiscal year was Alibaba's most profitable since 2021, with net income rising 10 percent to 79.7 billion yuan (US$11 billion).

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