Chinese e-commerce giant Alibaba said it will take a 10.4 per cent in Singapore Post, the 150-year old national postal service provider in the city state, for S$312.5m ($249m).
The two companies called the agreement a "landmark collaboration" for the e-commerce industry.
Both companies have signed an MOU to negotiate a joint venture in the business of international e-commerce logistics. From the press statement:
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