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BUSINESS & TECH

Alibaba Takes Control of Logistics Unit

Alibaba's investment in its Cainiao logistics unit is part of its wider
Alibaba's investment in its Cainiao logistics unit is part of its wider "new retailing" model, which has seen it eyeing more brick-and-mortar facilities such as the pictured Cainiao delivery collection point and a planned high-tech shopping mall. Photo: Visual China

E-commerce giant Alibaba on Tuesday announced a plan to take control of and pour 100 billion yuan ($15 billion) into its Cainiao logistics unit, aiming to build up a network that can make rapid deliveries anywhere in the world.

Alibaba Group Holding Ltd. said it would pay 5.3 billion yuan to boost its stake in Cainiao to 51% from a previous 47%. It added the new investment would entitle it to another seat on Cainiao’s board, giving it the right to name four out of seven board members.

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