China’s Alibaba to buy 10% stake in Singapore Post
Alibaba Group has agreed to buy a 10.35% stake in Singapore Post (SingPost) for S$312.5 million ($249 million), becoming the second-largest shareholder in the national postal service provider.
In addition to selling 30 million ordinary shares, the listed company is issuing 190.096 million new shares to Alibaba Investment at S$1.42 apiece. The two companies are also discussing a possible joint...
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