Alibaba invests $693m for stake in Chinese courier STO Express

Alibaba invests $693m for stake in Chinese courier STO Express

Employees and visitors are reflected on a glass panel at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Friday, Sept. 8, 2017. Photographer: Qilai Shen/Bloomberg

 Alibaba Group Holding Ltd will take a 14 percent stake in STO Express Co Ltd through a $693 million deal, the e-commerce giant’s fourth significant investment in a Chinese courier company.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter