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Alibaba takes control of logistics business, pledges $15 billion to expand network

HONG KONG/BEIJING (Reuters) - Chinese e-commerce firm Alibaba Group has taken control of logistics unit Cainiao and pledged to spend 100 billion yuan ($15 billion) over five years to build out a global logistics network, underscoring aggressive expansion plans overseas.

Alibaba takes control of logistics business, pledges $15 billion to expand network
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