Alibaba-backed logistics firm Best mulls sale in strategic review

Alibaba, Tencent and Taiwan Semiconductor Manufacturing Co. each joined the ranks of Asia's top 10 companies by quarterly net profit. (Nikkei montage/Photos by Reuters

New York-listed Best Inc, a Chinese logistics firm backed by e-commerce giant Alibaba Group Holding Ltd, is considering a sale as part of a strategic review, six people with knowledge of the matter said.

With the endorsement of Alibaba, its biggest shareholder, Best has tapped financial advisers to explore options as its shares have been underperforming and are worth a fifth of its IPO price in 2018, two of the people involved in the discussions said.

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