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BRIEF-Alibaba to raise around $1 bln for its local-services platform Koubei - WSJ

Oct 18 (Reuters) -

* Alibaba Group Holding is planning to raise around $1 billion to fund the expansion of its local-services platform Koubei - WSJ, citing sources

* The deal could value Koubei at nearly $8 billion - WSJ

* Alibaba Group hired Credit Suisse Group to reach out to a small group of prominent international investors for the deal- WSJ, citing sources

Source text - on.wsj.com/2e3JIXY

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