Announced
Synopsis
Hangzhou Haoyue, an Alibaba affiliate, agreed to acquire a 20% stake in Suning.com, a retailer, from Taobao China Software, an online shopping platform, for $389m. The valuation of the Suning stake is far smaller than the $4.6bn the Chinese e-commerce giant paid for it in 2015, representing a roughly 90% loss.
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