Workers at STO Express sort out packages in Wenzhou in east China's Zhejiang Province. Photo: Xinhua
Alibaba to buy stake in parcel delivery firm STO Express for 4.6 billion yuan
- Alibaba will pay US$693.3 million for a 49 per cent stake in a new unit that will control 29.9 per cent of STO
- STO shares jump by 10 per cent daily limit in Shenzhen
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Alibaba
Workers at STO Express sort out packages in Wenzhou in east China's Zhejiang Province. Photo: Xinhua