Alibaba buys controlling interest in Cainiao logistics network

September 27, 2017

China-based e-commerce giant Alibaba Group has taken control of struggling logistics network Cainiao with an investment of 5.3 billion yuan (US$807 million) in a move to dramatically increase its international reach. The investment, once completed, will increase Alibaba’s stake in the logistics network from 47 percent to 51 percent and brings the estimated valuation of Cainiao to about $20 billion, according to Reuters.

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