Chinese stocks continue to tumble, Alibaba, as one of it biggest tech companies, is
spreading its bets and upping its investments in companies that focus on
cross-border commerce and making its e-commerce operations more efficient.
Alibaba today announced that it has made a strategic investment into Mei.com, a flash sales
site; and it has increased its stake in
Singapore Post Limited (SingPost). Alibaba
will put $206.85 million into SingPost and a subsidiary to increase its stake
to 14.51 percent and form a new JV.
Alibaba has not
disclosed the value of the stake in Mei.com but it have been confirmed from a reliable
sources close to the deal that it is over $100 million.
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