Alibaba completed the acquisition of a 12% stake in YTO for $997m.

Alibaba, a provider of online and mobile commerce businesses, completed the acquisition of a 12% stake in YTO, a provider of logistics services, for $997m. The new investment will allow Alibaba and YTO to deepen collaboration on areas including delivery, air freight, global network and supply chains and digital transformation as part of their ambition to beef up their global reach.