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Alibaba boost its e-commerce strength in China
by 2014-06-14

     ALIBABA Group, China's biggest e-commerce company, has agreed to buy a 10 per cent stake in Singapore Post, as the Hanzhou company prepares for an IPO that may be bigger than Facebook, Bloomberg reports,
     The deal will help SingPost build its presence in China, and the company indicated in a statement that the two will enter talks for an e-commerce logistics venture, said the report.
"There's definitely synergies between the two companies," Andrea Isabel, an analyst at UOB-Kay Hian Holdings Ltd.
     "Alibaba doesn't have their in-house logistics and the partnership will definitely help them. The deal will help SingPost build their presence in China," she said.
     The deal will make Alibaba the second-biggest investor in Singapore's former state-owned mail service after Singapore Telecommunications, said SingPost CEO Wolfgang Baier.

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