Ron Burgundy Posted August 10, 2015 Share Posted August 10, 2015 Alibaba Group Holding Ltd said Monday it will invest 28.3 billion yuan ($4.56 billion) in Suning Commerce Group Co Ltd, clinching a cross-investment deal that allies China's leading e-commerce player with one of the country's largest brick-and-mortar retail chains. The deal will make Alibaba Suning's second-largest shareholder with a 19.99 percent stake, while Suning would invest 14 billion yuan ($2.25 billion) to acquire a 1.1 percent stake in Alibaba. Alibaba customers, for instance, could go into one of Suning's 1,600 outlets in China to try out a product before purchasing it on Alibaba's website using their smartphone. View the full article 1 Quote Link to comment Share on other sites More sharing options...
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