Alibaba has increased its shareholding to 63%, having already acquired a majority stake in the logistics platform, also backed by Fosun and Intime Retail Group, two years ago.

China-based logistics services provider Cainiao Smart Logistics Network has received RMB23.3bn ($3.33bn) from e-commerce group Alibaba, TechCrunch reported on Friday. Alibaba increased its stake from 51% to 63% through the investment, which included both newly issued shares and a secondary transaction of undisclosed size and involving an unnamed shareholder. Cainiao was co-founded by Alibaba, which…

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