Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a nearly 20 percent stake in consumer electronics retailer Suning, the two companies said in a statement Monday.
At the same time the Chinese shopping chain will invest up to 14 billion yuan for just over one percent of Alibaba, the statement said, bringing the total value of the deal to nearly $7 billion.
GMT 03:55 2017 Monday ,24 AprilFrance's Macron: 'will carry hope of our country and Europe'
GMT 03:51 2017 Monday ,24 AprilMerkel spokesman wishes France's Macron 'all the best'
GMT 03:46 2017 Monday ,24 AprilJuncker congratulates Macron on French election result
GMT 03:42 2017 Monday ,24 AprilEuro rises sharply after first round of French election
GMT 03:37 2017 Monday ,24 AprilTokyo shares up 1.4% as centrist Macron leads French presidential race
GMT 11:08 2017 Sunday ,23 AprilOne OSCE staff killed by mine blast in east Ukraine
GMT 11:06 2017 Sunday ,23 AprilEarly French vote turnout slightly higher than 2012
GMT 11:04 2017 Sunday ,23 AprilIsraeli attack on Syria military camp kills three