Alibaba to pick $290m stake in wine importer 1919.cn

Alibaba to pick $290m stake in wine importer 1919.cn

Photo by Kym Ellis on Unsplash

Chinese e-commerce giant Alibaba Group Holding Ltd will invest 2 billion yuan ($288.25 million) in domestic wine and spirits importer and retailer 1919.cn to tap into resurgent demand for imported wine in China.

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