Alibaba leads consortium in $1.4 billion deal for stake in Chinese courier ZTO
The consortium includes Alibaba`s majority-owned logistics affiliate Cainiao Smart Logistics Network Ltd, Alibaba and ZTO said in a joint statement without disclosing the identity of other investors. They said they expect the deal to close in June.
A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen. Photo: Reuters