Alibaba invests $693 mln for stake in Chinese courier STO Express

SHANGHAI, - Alibaba Group Holding Ltd will take a 14 percent stake in STOExpress Co Ltd through a $693 million deal, the e-commerce giant's fourth significant investment in a Chinese courier company. Shares in STO Express shot up when trading opened and immediately hit the upper 10 percent limit on the Shenzhen Stock Exchange, according to Refinitiv data.... Continue Reading →

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