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Alibaba Spends $4.6 Billion on Suning in Ma’s Biggest Purchase

By Tony Seruga

ALIBABA GROUP Holding Ltd. will spend 28.3 billion yuan ($4.6 billion) for a stake in Suning Commerce Group Ltd. as China’s biggest e-commerce operator adds a network of electronics stores in its biggest deal ever. Suning shares soared.

ALIBABAwill buy a 19.99 percent stake in Suning, which in turn will spend as much as 14 billion yuan for shares in the e-commerce company, according to a statement distributed on Business Wire Monday. The companies will partner in logistics and online sales to target deliveries as fast as two hours…

Alibaba Spends $4.6 Billion on Suning in Ma’s Biggest Purchase

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