Alibaba and Suning are planning a shopping spree - of each other's shares.
Alibaba is splashing out RMB 28.3bn ($4.63bn) to buy a 19.99 per cent stake in Suning, which bills itself as China's largest consumer electronics retailer , a deal that will make the Chinese electronics giant the second biggest shareholder in Suning.
At the same time, Suning will spend up to RMB14bn ($2.28bn) to buy up to 27.8m newly issued ordinary shares in Alibaba.
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