Alibaba and Suning Commerce, two titans of Chinese retailing, are buying stakes in each other to develop what they are billing as a “new commerce model” that integrates online and offline retailing.
Ecommerce group Alibaba is spending Rmb28.3bn ($4.6bn) on buying a 19.99 per cent stake in Suning, deal that is Alibaba’s biggest yet and makes it Suning’s second-biggest shareholder.
At the same time, Suning, which operates more than 1,600 outlets in 289
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