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Reuters exclusively reports Alibaba aims to become top shareholder in courier company YTO

Reuters reported exclusively that Alibaba is in talks with YTO Express Group’s founders to raise its stake in the Chinese courier company with an aim to become the top shareholder as it accelerates consolidation in the world’s largest express delivery market. Alibaba Group Holding Ltd, which already owns about 10% of YTO, is in talks with YTO’s founding couple Yu Huijiao and Zhang Xiaojuan for an additional stake of up to 30%, Reuters sources said. 

Article Tags
Topics of Interest: Tech
Type: Reuters Best
Sectors: Equities
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text