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BEIJING (Reuters) - Alibaba Group Holding Ltd said it will invest an additional $2 billion in Southeast Asian e-commerce firm Lazada Group as part of the Chinese firm’s push into new markets.

FILE PHOTO: A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song/File Photo

Following the investment, Lucy Peng, who currently serves as Lazada Group chairwoman, will take over the role of chief executive officer, replacing founder Max Bittner, who will become a senior advisor to Alibaba.

Alibaba has previously invested $2 billion in the Singapore-based firm, bringing its total investment to $4 billion.

Reporting by Cate Cadell; Editing by Stephen Coates

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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