--Fosun International is mulling a sale of its stake in Alibaba Group's logistics arm Cainiao, a deal that can be worth up to US$1 billion, Reuters reported, citing unnamed sources.
--A financial adviser has been appointed for the potential divestment of Fosun's stake of less than 5% in Cainiao, with the company being valued at US$18 billion-US0 billion, though the plan is still at a preliminary stage, according to Reuters.
Full story: https://reut.rs/3U2RIGu
Write to Clarence Leong at clarence.leong@wsj.com
(END) Dow Jones Newswires
11-23-22 0535ET