Alibaba to buy Cainiao stake for up to US$3.75-billion as it drops IPO plan

Alibaba Group BABA-N said on Tuesday it was offering to buy the 36 per cent of Cainiao it does not already own for up to $3.75-billion, abandoning plans for an initial public offering (IPO) of the logistics business in Hong Kong. In the Chinese e-commerce giant’s latest u-turn of its restructuring…#alibabagroupbaban #cainiao #hongkong #alibaba #alibabagroup #joetsai #cloud
Source: Reuters: Health - Category: Consumer Health News Source Type: news