Both Rocket Internet and Tesco said they have entered into a "put-call arrangement" with Alibaba, giving the buyer the right to purchase, and shareholders the right to sell their remaining stakes at a "fair market value" within the 12 to 18 month period after the closing of the deal.
In buying Lazada, the idea is to help buyers and sellers on Alibaba's platform to get access to the Southeast Asian market. Lazada has already built up a supply chain, delivery and payment options in the regions in which it operates.
Marie Sun, a senior equity analyst at Morningstar, told CNBC that Alibaba is looking for future growth drivers outside China and has already invested in markets such as India, South Korea and the United States.
Sun added that Southeast Asia's e-commerce market is still underdeveloped, compared to those in China and U.S., which implies there would be higher growth in the future. "So if they can dominate the market when the mobile internet penetration increases in the region, Alibaba can benefit in the longer term," she said.