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Alibaba and its logistics arm, Cainiao, are to part with $1.38bn for a 10% stake in express operator ZTO. Expected to close in early June, the deal will help bolster both companies’ participation in the last-mile market. TechCrunch reports that the move will “marry the speed and ease of e-commerce, with the advantages of brick and mortar”. Cainiao said it would enable it and ZTO to “supercharge joint innovation and development”.

 

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