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Business deals

Alibaba to invest $685m in courier serving rural China

STO Express will help boost logistics network nationwide

An STO Express courier drives his cargo three-wheeler in Beijing. The company possesses a broad logistics network across China.   © Reuters

SHANGHAI -- Alibaba Group Holding will take a 14% stake in Chinese courier STO Express for 4.6 billion yuan ($685 million), as the country's top e-commerce company looks to strengthen its delivery service in smaller cities and towns.

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