SINGAPORE (July 25): Alibaba Group Holding is in talks to make a major investment in Indonesia's PT Tokopedia, people familiar with the matter said, potentially scoring a second deal to accelerate its expansion into South-east Asia's largest economy.

The Chinese company is in negotiations to lead a funding round in Indonesia's largest online marketplace of up to US$500 million ($680 million), one of the people said, asking not to be identified because the deal is private.

Alibaba, which already controls Lazada Group SA, would be joining existing backers SoftBank Group Corp and Sequoia Capital if the financing goes through.

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