Suning Commerce to buy Tiantian Express
Retailer Suning Commerce plans to buy Hangzhou-based Tiantian Express in a deal worth around 4.25bn yuan ($612m).
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Alibaba and Suning join forces
Chinese online giant Alibaba is to invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China. This will make Alibaba the second-largest shareholder in the company.
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China’s Suning approved for international express delivery
Suning, one of China’s largest appliance retailers, has obtained an international express delivery license from the State Post Bureau, becoming the country’s first e-commerce player to operate the service.
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