Alibaba extends retail push with investment in STO Express

March 11, 2019 Alexander Whiteman

The noise surrounding Amazon may ring louder, but China’s Alibaba is in many ways mirroring its North American competitor. The e-tail giant has just announced a near-$700m investment in Shanghai-headquartered STO Express. The agreement marks Alibaba’s fourth express courier investment, with minority stakes now held in YTO, ZTO, and Best, according to The South China Morning Post. This 15% stake in STO comes amidst a crucial period for China, with ...

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