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SingPost gets nod for Alibaba to raise stake

Alibaba's stake to be raised to 14.4% from 10.2% now with further investment of S$187.1 million

Published Thu, Oct 27, 2016 · 09:50 PM

Singapore

AFTER multiple delays, Chinese e-commerce giant Alibaba's proposal to raise its stake in Singapore Post (SingPost) to above 14 per cent at S$1.74 per share finally looks set to happen, and within the next few months.

But in the wake of SingPost's recent share weakness, a deal that might have seemed sweet for Alibaba a year ago might look a tad expensive now.

The Info-communications Media Development Authority has given the go-ahead for the deal, SingPost said in a Singapore Exchange filing on Thursday evening, a…

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