Alibaba eyes South-east Asia e-commerce with $312.5m SingPost stake
Published on May 28, 2014 4:13 PM
SINGAPORE - Chinese technology giant Alibaba Group is buying a 10.35 per cent stake in Singapore Post as it seeks to tap into e-commerce opportunities in South-east Asia.
The $312.5 million investment comes alongside a memorandum of understanding between the two partners that will allow them to discuss and negotiate a joint venture related to the business of international e-commerce logistics, SingPost said in a statement on Wednesday.
Through the partnership, Alibaba's customers and merchants will gain greater access to SingPost's international logistics capabilities, infrastructure and delivery networks and end-to-end solutions, SingPost said.
SingPost offers fully e-commerce logistics services such as freight transportation, warehouse fulfilment, delivery and returns as well as web services.
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