Alibaba to spend $3.3b to hike stake in delivery arm Cainiao

Alibaba to spend $3.3b to hike stake in delivery arm Cainiao

REUTERS/Aly Song

Alibaba Group Holding Ltd. will spend $3.3 billion to raise its stake in Cainiao, in an effort to exert more control over the logistics subsidiary that underpins its sprawling e-commerce empire.