Alibaba boosts stake in SingPost to 15% – Mobile World Live

Alibaba boosts stake in SingPost to 15%

08 JUL 2015

Chinese e-commerce giant Alibaba plans to invest an additional SGD279 million ($207 million) in Singapore Post (SingPost) and its e-commerce subsidiary.

Alibaba, which acquired about a 10 per cent stake in SingPost for $249 million last year, is expanding that interest to 15 per cent with a $138.6 million investment. The Chinese firm is also investing $68 million to buy a 34 per cent stake in Quantium Solutions International, a SingPost subsidiary that provides e-commerce logistics across Asia Pacific, Reuters said.

SingPost is looking to expand its its e-commerce business as revenues from its core postal business decline.

In a separate deal, Alibaba reportedly invested more than $100 million in Mei.com, a leading flash sales platform for luxury and fashion products in the mainland.

Alibaba said in a statement the deal is intended to improve Mei.com’s supply chain services, which cover the sales of limited-time discounted products from well-known international luxury and fashion brands to consumers in China.

Alibaba plans to integrate resources from its B2C platform Tmall.com to form a specialised services team to support Mei.com’s development and assist it in expanding its user base, brand cooperation base, logistic services and IT infrastructure services.

Author

Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

Read more

Related

Tags