Alibaba broadens its global expansion plans with a $249m investment in Singapore’s postal servi
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Chinese e-commerce giant Alibaba announced today that it will invest S$312.5 million ($249 million) into Singapore’s national postal service provider SingPost, taking a 10.35 percent stake after the completion of the deal. Both companies also signed an agreement that would pave the way for discussions on setting up a joint venture in terms of international e-commerce logistics in the future, which is a strong indication of Alibaba’s overseas expansion plans._Daniel Zhang, Alibaba’s chief operating officer, said in a statement that the company hopes to provide “greater access to a suite of international e-commerce logistics solutions and products.” The cooperation will...
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