HONG KONG (Nikkei Markets) -- China’s Alibaba Group Holding on Friday said it plans to increase its stake in logistics firm Cainiao Smart Logistics Network by 12% with an additional investment of 23.3 billion yuan ($3.33 billion).
Nikkei Markets
Alibaba plans to increase stake in Cainiao Network with $3.3 bn investment
The additional investment from Alibaba Group is a “vote of confidence” in Cainiao, the statement read. © Reuters
Latest on Nikkei Markets
