According to the terms of the agreement, Alibaba is investing USD 312 million for a minority stake in the postal service. The initiative is part of the players` initiative to develop ecommerce logistics.
Alibaba has also partnered Singapore Post in order to gain access to the latter’s international delivery networks as well as solutions for Alibaba Group’s merchants and customers, the same source reports.
The terms of the agreement are to be finalized in the near future, covering the overall shape of the joint venture in regards to the international ecommerce logistics.
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