Alibaba Group Holding Limited (NYSE:BABA) plans to buy at least 10% of YUNDA Holding Co., Ltd. (SZSE:002120), two people with knowledge of the matter told Reuters. Alibaba is looking to buy the stake from Yunda's controlling shareholders founding couple Nie Tengyun and Chen Liying, who own 52.19% of Yunda through their wholly owned firm Shanghai Luojiesi Investment Management Co., Ltd., said one of the people. At the current market price, the stake would be worth at least $790 million.

The other person said Alibaba could go beyond 10% and buy up to 15% of YUNDA. The people declined to be identified as they were not authorized to speak with media. Alibaba declined to comment.

Yunda did not respond to a request for comment.