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27 September 2017

Alibaba packs almost $800m into Cainiao

The e-commerce firm is set to invest $798m in logistics platform Cainiao, taking its stake from 47% to 51% and valuing it at approximately $20bn.

Author: Robert Lavine, News Editor

E-commerce group Alibaba agreed yesterday to pay RMB5.3bn ($798m) to raise its stake in China-based logistics affiliate Cainiao Smart Logistics Network from 47% to 51%.