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Alibaba Group Holding Ltd. is exploring options to reduce its minority stake in ZTO Express, a leading express delivery company. The Chinese e-commerce giant is reportedly considering a sale of exchangeable bonds linked to its roughly 10% stake in ZTO, which it acquired for $1.38 billion in 2018. Alibaba is in talks with investment banks to facilitate the potential transaction. This move follows a similar bond issuance by Baidu Inc., which raised $2 billion through Trip.com bonds in March. The potential sale is part of Alibaba's broader strategic adjustments amid evolving market conditions.
Alibaba $BABA is weighing a sale of exchangeable bonds tied to its stake in $ZTO Express, Bloomberg reports. It bought 10% of the delivery firm for $1.38B in 2018. A deal would follow Baidu's $2B Trip. com bond move in March.
$BABA Alibaba Said to Consider Reduced Stake in $ZTO ZTO Express - Bloomberg
BREAKING: Alibaba $BABA is exploring options to reduce its stake in $ZTO Express $ZTO, including a potential sale of bonds exchangeable into shares. Talks with investment banks are ongoing, Bloomberg reports. #Alibaba #ZTOExpress
