Alibaba is ploughing an additional $807m into Cainiao, taking its holding in the logistics platform from 47 per cent to 51 per cent. It also pledged to invest Rmb100bn ($15.2bn) over the next five years.By moving to a controlling stake, the Chinese internet giant will consolidate the results of the loss-making Cainiao. It will also entrench its position among fellow investors including Alibaba-owned retailer Intime and a clutch of courier companies.
Alibaba said the deal would allow it to improve the logistics service. Some 55m parcels a day are delivered over the Cainiao data network.
It comes amid a shake up in the logistics sector, which is the backbone infrastructure for China’s booming ecommerce market.
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