Alibaba Eyes Global Market After Cainiao’s IPO Withdrawal

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(AsianFin)—Alibaba Group Holding Ltd. has decided to cance the highly anticipated initial public offering (IPO) for its Cainiao logistics arm in Hong Kong, putting aside plans that could have raised over $1 billion.As cross-border e-commerce competition gets stiff, the role of logistics is increasingly important. Given the strategic significance of Cainiao to Alibaba in building a global logisti