Posts From King World News

Alibaba to invest $4.6 billion in China electronics retailer Suning

Alibaba Group Holding Ltd will invest $4.6 billion in leading Chinese electronics retailer Suning Commerce Group Co Ltd, its biggest step yet towards integrating online and store-based shopping. Alibaba is paying 28.3 billion yuan ($4.56 billion) for newly issued Suning shares and will ultimately hold a 19.99 percent stake. Suning will in turn invest 14 billion yuan to acquire 1.1 percent of Alibaba through the purchase of new shares, the