BEST's Potential Privatization Has No Impact on Biz, Does Not Mean Takeover by Alibaba/ Cainiao
BEST announced that it has received a buyout offer from a consortium formed by investors including $BABA-SW(09988.HK$ and Cainiao.
However, 21st Century Business Herald cited sources as saying that, while BABA and Cainiao are among the investors of the consortium, relevant transaction is part of BEST's regular privatization process and does not affect the company's business operations. It also does not mean BABA or Cainiao will take over the the company.
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