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Published 19:36 IST, March 26th 2024

Alibaba abandons Cainiao IPO plans, proposes acquisition

Tech behemoth, which currently holds approximately 64% of Cainiao's stake, revealed its intention to acquire the remaining shares for a sum of up to $3.75 bn.

Reported by: Business Desk
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Alibaba CEO Eddie Wu
Alibaba | Image: x/@Investingcom
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16:26 IST, March 26th 2024