Posted inChina

Alibaba to buy 4.6 billion yuan stake in STO Express

Alibaba Group Holding has proposed to buy a 14% stake in Chinese courier service firm STO Express as the technology giant expands its footprint in the expanding logistics industry. Alibaba will pay 4.66 billion yuan (US$693.3 million) for a 49% stake in a new subsidiary that will control 29.9% of Shenzhen-listed STO Express and will […]