Alibaba spends $1.38bn to boost logistics

Alibaba Group has bought a 10% stake in Chinese delivery company ZTO Express in a bid to improve its global logistics capabilities.

The $1.38bn purchase was made by Cainiao, Alibaba’s parcel tracking subsidiary. It aims to bolster the company’s first- and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technological solutions by increasing collaboration between Cainiao and ZTO.

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Alibaba spends $1.38bn to boost logistics

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