SHANGHAI—Facing tougher competition in online retailing, Chinese e-commerce giant Alibaba Group Holding Ltd. and its logistics arm are leading a $1.4 billion effort to boost their delivery capabilities.
Under the deal announced Tuesday, investors led by Alibaba and its majority-owned logistics unit Cainiao Network will spend almost $1.4 billion to buy a 10% stake in express-delivery company ZTO Express Inc. of Shanghai, which delivered more than 6 million parcels last year.
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