Tag: affiliate

Taobao China Software to sell Suning.com stake to Alibaba affiliate

BEIJING (Reuters) -Alibaba’s Taobao China Software will sell its 20% stake in Chinese retailer Suning.com to another Alibaba affiliate, Hangzhou Haoyue Enterprise Management for 2.8 billion yuan ($389 million), Suning.com said in a filing on Friday. The valuation of the Suning stake is far smaller than the $4.6 billion the Chinese e-commerce giant paid for […]