Alibaba, SingPost to cooperate on e-commerce

Singapore’s post al company, SingPost and Alibaba Investment Limited, a wholly-owned subsidiary of China’s Alibaba Group, announced they have entered into an agreement under which Alibaba Investment will purchase a 10.35 per cent stake in SingPost, worth S$312.5 million (US$249.9 million).


Alibaba SingPost to cooperate on e-commerce


Singapore’s post al company, SingPost and Alibaba Investment Limited, a wholly-owned subsidiary of China’s Alibaba Group, announced they have entered into an agreement under which Alibaba Investment will purchase a 10.35 per cent stake in SingPost, worth S$312.5 million (US$249.9 million). Both companies also signed a memorandum of understanding which will allow them to discuss and negotiate a joint venture in respect of the business of international e-commerce logistics. This strategic business cooperation will also tap into other e-commerce opportunities in Southeast Asia and beyond, the duo said.