07:07 GMT01 August 2021
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    The head of Alibaba e-retail giant Jack Ma told Sputnik on Thursday he hopes a joint venture with Russia's Sberbank would start working as soon as possible.

    DAVOS (Sputnik) — Sberbank and Alibaba are planning to set up an e-commerce joint venture in in 2017.

    "It is still in the process. I hope as soon as possible," Ma said, asked when the joint venture can start working.

    He said that he did not yet have the specific figures on how much Alibaba was ready to invest into the joint venture with Sberbank.

    "I don't have any specific number yet, we are still talking, and our team will tell me the number later," Jack Ma said.

    Jack Ma told Sputnik he could attend the 2017 St. Petersburg International Economic Forum (SPIEF).

    "I hope so," Ma said, adding that he is a frequent visitor to St Petersburg and his schedule is being worked out at the moment.

    The 2017 SPIEF event is due to take place in June.

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