Taobao China Software to sell Suning.Com stake to Alibaba affiliate

By Thomson Reuters Feb 23, 2024 | 5:51 AM

BEIJING (Reuters) – Taobao China Software will sell its 20% stake in Suning.Com to Hangzhou Haoyue Enterprise Management for 2.8 billion yuan ($389 million), Shenzhen-listed Suning.Com said in a filing on Friday.

($1 = 7.1979 Chinese yuan renminbi)

(Reporting by Ethan Wang, Ella Cao and Brenda Goh; editing by Jason Neely)