China's e-commerce giant, Alibaba Group Holding , said on Friday it would i...
FILE PHOTO: A logo of Alibaba Group is seen at the World Internet Conference in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song
Alibaba co-founded Cainiao in 2013, with partners including department store owner Intime Group, conglomerate Fosun Group and a handful of logistics companies. The network underpins delivery for Alibaba’s e-commerce marketplaces. Alibaba said the latest investment would go toward subscribing for newly issued Cainiao shares and an equity interest from an existing shareholder.
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