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Alibaba acquires 14% stake in STO Express

Chelsea ToczauerbyChelsea Toczauer
March 11, 2019
in Carriers, E-Commerce, Express
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E-commerce giant Alibaba Group will take a 14% stake in Chinese STO Express through a US$693 million deal. The move strengthens Alibaba’s access to STO’s network, while the new surge of investment will likely help the express carrier in its aims to grow its aircraft fleet.  

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