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Alibaba acquires 20% stake in electricals retailer Suning in £2.9bn deal
Chinese etail giant Alibaba is investing $4.6bn (£2.9bn) in electronics chain Suning, one of the country’s largest bricks-and-mortar retailers.
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Suning to purchase 21m in shares in LaOX
Chinese consumer electronics retailer Suning is to purchase a further 21 million shares in Japanese retailer LaOX. After the purchase, Suning will hold 33.08% of LaOX shares. Suning will also nominate two new board directors, which needs to be approved later by the shareholders.