Alibaba agrees to invest $1.25 bln in Chinese online food delivery service – report

Industry:    2015-12-25

Dec 25 Alibaba Group Holding Ltd has agreed to invest $1.25 billion in Chinese online food delivery service Ele.me, leading business weekly Caixin reported on Friday. The report, citing unidentified sources, said Alibaba will obtain a 27.7 percent stake in Ele.me, becoming its biggest shareholder. Officials at Alibaba could not be reached for comment. (Reporting by Kazunori Takada; Editing by Shri Navaratnam)

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