RTR: China's Fosun seeks to sell stake in Alibaba's logistics arm Cainiao – sources
REUTERS reports: Debt-laden Chinese conglomerate Fosun International (0656.HK) is seeking to offload a minority stake in Alibaba Group’s (9988.HK) logistics ...
Alibaba has strengthened its hold on the courier market by investing an extra $966m in YTO Express, bringing its share in the company to 22.5% from 10.5%. The e-commerce giant will work with YTO on express deliveries, air cargo, building a global logistics network and digital technology.
The move looks to be part of a wider industry trend, following last month’s news, that JD.com has acquired a controlling interest in express transport company Kuayue-Express Group for Rmb3bn ($439m), in the South China Morning Post.