Alibaba raises stake in SingPost, preps for competition with Amazon

Alibaba raises stake in SingPost, preps for competition with Amazon

A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer CHINA OUT

Alibaba Investment Limited, a subsidiary of Alibaba Group Holding, has received in-principle approval from the Singapore Stock Exchange to raise its stake in Singapore Post (SingPost).

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