Technology

Alibaba strengthens logistics network by investing US$966 million in YTO Express, doubling its stake

Alibaba strengthens logistics network by investing US$966 million in YTO Express, doubling its stake

Chinese e-commerce giant Alibaba Group Holding has invested an additional 6.6 billion yuan (US$966 million) in YTO Express, more than doubling its stake in the major Chinese courier from 10.5 per cent to 22.5 per cent, in its latest move to strengthen its logistics network.

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