China’s e-commerce giant, Alibaba Group Holding, said on Friday it would invest an additional $3.33 billion to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%.
Alibaba Group Holding on Monday said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year.
Alibaba Group Holding Ltd is eyeing a listing in Hong Kong as early as November to raise up to $15 billion (£11.64 billion), after political unrest in the Asian financial hub put the move on ice earlier this year.
Few people are better placed to suggest how fashion, luxury and beauty brands can reach Chinese consumers than Christina Fontana, director of fashion & luxury Europe for Alibaba, the world's biggest e-commerce company.
Ant Financial, an affiliate of China’s largest e-commerce company Alibaba Group, is in talks for a syndicated loan of up to $3.5 billion at a lower rate to slash debt costs, Bloomberg reported on Wednesday.
Russian internet company Mail.Ru said on Wednesday it had agreed a joint venture with Alipay, the mobile payments arm of Alibaba Group, along with the Russian Direct Investment Fund (RDIF) and two other Russian partners.