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 arm Cainiao, in a deal that could fetch up to $1 billion, two people with direct knowledge of the matter said.

Fosun has appointed a financial adviser to run the sale of its stake of less than 5% in Cainiao and the plan is at an early stage, said the ...