Alibaba ups majority stake in Cainiao ahead of 11.11

Alibaba increased its majority stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51% with an investment of US$3.3 billion today. The news comes just before China’s major “11.11” shopping holiday on Nov. 11, and on the heels of other moves the e-commerce giant recently made to expand its global presence, including shipping freight via train to Liège and […]

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