Alibaba increases shareholding in YTO
[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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