Ron Burgundy Posted July 8, 2015 Share Posted July 8, 2015 Chinese e-commerce giant Alibaba Group Holding Ltd is investing about S$279 million ($205.98 million) to expand its holdings in Singapore Post Ltd (SingPost) and its e-commerce subsidiary, the two companies said in a statement. SingPost is seeking to boost its e-commerce business to offset weak postal revenues, and last year an Alibaba unit bought an over 10 percent stake in SingPost for $249 million. In the latest deal, Alibaba said it was buying an additional 5 percent stake in SingPost for S$187.1 million. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.