Alibaba halts Cainiao's IPO, takes full control

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Artur Stańczuk
March 31, 2024
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Summary:

Alibaba decided to scrap Cainiao's IPO, eyeing to acquire the remaining 36% for $3.75B, valuing Cainiao at $10.3B. Amid China's tech downturn, Alibaba bets big on logistics.

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