China’s picks 10% stake in logistics operator for $115m

FILE PHOTO: Employees work at a logistic centre in Langfang, Hebei province, November 10, 2015. REUTERS/Jason Lee/File Photo

China’s second-largest e-commerce firm has paid HK$898.99 million ($114.55 million) to acquire a 10 per cent stake in Hong Kong-listed China Logistics Property Holdings (CLP), according to a Hong Kong stock exchange filing.

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