Alibaba logistics deal is hard Singles’ Day sell

Alibaba logistics deal is hard Singles’ Day sell, says mak_robyn:

Chinese e-commerce company Alibaba said on Nov. 8 that it will invest an additional 23.3 billion yuan in its logistics subsidiary, Cainiao Smart Logistics Network. After the deal, Alibaba will own a 63% equity stake, up from the current 51%.

Alibaba said the latest investment would go towards subscribing for newly issued Cainiao shares, plus an equity interest from an existing shareholder. Further details were not disclosed. Separately, Alibaba said on Nov. 11 that sales for its annual Singles' Day shopping festival hit 84 billion yuan within the first hour, up 22% from last year's early haul of 69 billion yuan.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Breakingviews /  🏆 470. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alibaba says Singles' Day sales hit 91.2 billion yuan in first hourChinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for...
Read more »

Alibaba's Singles' Day sales hits $13 billion in the first hour — up 32% from 2018 - Business InsiderChinese e-commerce giant Alibaba said on Monday that sales for its annual Singles' Day shopping blitz hit $13 billion within the first hour.
Read more »

Alibaba Singles' Day sales hit 84 billion yuan in first hourChinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for...
Read more »

Alibaba Singles’ Day sales hit $23B in first nine hoursE-commerce giant Alibaba filled billions of dollars in orders during China's annual Singles' Day shopping frenzy, the world's biggest 24-hour shopping event.
Read more »

34 Of The Best Deals To Check Out On Singles' Day 2019Have an urge to shop some sales but *don't* want to wait until Black Friday? Allow me to introduce you to Singles' Day (and deals at Nordstrom, Aerie, The Grommet, and more).
Read more »

Alibaba Singles' Day sales hit $23 billion in first nine hoursChinese e-commerce giant Alibaba's annual Singles' Day sales hit $23 billion in first nine hours by horwitzjosh
Read more »