Equities

Reuters reveals China's Fosun seeks sale of $1.3 billion stake in Alibaba's Cainiao

Reuters reveals China's Fosun seeks sale of $1.3 billion stake in Alibaba's Cainiao

Reuters was first to report that Fosun International is in talks with Alibaba and others to sell a stake worth $1.3 billion in the e-commerce giant’s Cainiao, at a time when Alibaba has been increasing its holdings in the logistics affiliate. Fosun, which owns resorts brand Club Med and controls French fashion house Lanvin, among other assets, is looking to sell part or all of its 6.7% stake in Cainiao at a valuation of nearly $20 billion, Reuters sources said.