China’s largest e-commerce company Alibaba has entered into what is being described as a strategic partnership with home appliance retailer Suning Commerce Group. Alibaba will spend 28.3 billion yuan (roughly 4.63 billion US dollars) to buy 19.9% stake in Suning, while Suning will buy at least 27.8 million new shares of Alibaba for 14 billion yuan (2.3 billion US dollars).
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