Alibaba Picks Up Stake In Singapore Post For $249 MillionMani
Internet giant Alibaba Group announced Wednesday that it will acquire a 10.35% stake in SingPost for $249 million, enhancing the Chinese company’s push into the logistics business and new overseas markets.
The deal would make Alibaba the second largest shareholder in publicly-traded Singapore Post, known as SingPost. Singapore state investment firm Temasek Holdings Pte Ltd is SingPost’s largest shareholder with a 25% stake.
Alibaba deal to boost global presence
The deal with SingPost would boost Alibaba's exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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