Alibaba Group Holding Ltd plans to buy at least 10% of Yunda Holding Co Ltd , marking the e-commerce giant's fifth investment in a large courier, two people with knowledge of the matter told Reuters.
), marking the e-commerce giant’s fifth investment in a large courier, two people with knowledge of the matter told Reuters.
The other person said China’s dominant e-commerce firm could go beyond 10% and buy up to 15% of Shenzhen-listed Yunda.Under Chinese regulations, a stake of over 5% in a domestically listed company can be sold at a discount of as much as 10% to the firm’s share price on the last trading day prior to a deal.
Domestic delivery firms dispatched 63 billion parcels last year, up 24% from 2018, while revenue grew 23% year-on-year to 745 billion yuan , data from the State Post Bureau showed in January.
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