Alibaba uncorks $290 million deal with stake purchase in wine e-tailer 1919.cn

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) will invest 2 billion yuan ($288.25 million) in domestic wine and spirits importer and retailer 1919.cn to tap into resurgent demand for imported wine in China.

Source: https://www.reuters.com/article/us-alibaba-wine/alibaba-uncorks-290-million-deal-with-stake-purchase-in-wine-e-tailer-1919-cn-idUSKCN1MS1I8