Alibaba and Suning merge

Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10.
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma (5th L) and Suning chairman Zhang Jindong (5th R) posing for a photo at a conference announcing the two companies' cooperation in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma delivering a speech at a conference announcing the cooperation between Alibaba and Suning in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Suning chairman Zhang Jindong delivering a speech at a conference announcing the cooperation between Alibaba and Suning in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma delivering a speech at a conference announcing the cooperation between Alibaba and Suning in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma (2nd L) walk towards Suning chairman Zhang Jindong (2nd R) at a conference announcing the two companies' cooperation in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma delivering a speech at a conference announcing the cooperation between Alibaba and Suning in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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This picture taken on August 10, 2015 shows Alibaba's founder and executive chairman Jack Ma delivering a speech at a conference announcing the cooperation between Alibaba and Suning in Nanjing, eastern China's Jiangsu province. Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 percent stake in consumer electronics retailer Suning, the two companies said in a statement on August 10. (AFP/Getty Images)
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