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Alibaba increases shareholding in YTO

| Facebook account: Hangzhoufeel | Updated: 2020-09-16

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[Photo/Facebook account: Hangzhoufeel]

YTO Express has said it will transfer a 12 percent stake of the company valued at 6.6 billion yuan ($966.2 million), or 17.406 yuan per share to Hangzhou-based e-commerce giant Alibaba Group. The move will increase Alibaba's shareholding in YTO Express to 22.5 percent.

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