Chairman Jack Ma beefing up e-commerce operator's retail presence after 24% fall in its market value this year
Wed, Aug 12, 2015 - 5:50 AM
Mr Ma (left) and Suning's Mr Zhang at a news conference in Nanjing, Jiangsu province, on Monday to announce the deal.
ALIBABA Group Holding Ltd will spend 28.3 billion yuan (S$6.3 billion) for a stake in Suning Commerce Group Ltd as China's biggest e-commerce operator adds a network of electronics stores in its biggest deal ever.
Alibaba will buy a 19.99 per cent stake in Suning, which...