China's Fosun in talks to sell $1.3b stake in Alibaba's Cainiao

China's Fosun in talks to sell $1.3b stake in Alibaba's Cainiao

FILE PHOTO: A logo of Cainiao Smart Logistics Network Ltd is seen outside its industrial park in Jinhua, Zhejiang province, China March 29, 2017. Picture taken March 29, 2017. REUTERS/Stringer Reuters

Fosun International is in talks with Alibaba and others to sell a stake worth $1.3 billion in the e-commerce giant’s Cainiao, three people said, at a time when Alibaba has been increasing its holdings in the logistics affiliate.

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