Alibaba-backed courier YTO Express to list via $2.7b reverse merger

The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou, Zhejiang province early November 11, 2014. REUTERS/Aly Song

Alibaba-backed YTO Express plans to go public via a 17.5billion yuan ($2.7 billion) merger with a listed clothing maker, becoming the latest courier seeking capital market funds to stay competitive during China’s e-commerce boom.

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