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    Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong

    HONG KONG (AP) – Chinese e-commerce company Alibaba said Tuesday that it would spin off its logistics arm, Cainiao Smart Logistics Network, in an initial public offering in Hong Kong, making it the first business unit to go public following a major restructuring. Alibaba said in a filing that it had submitted a spin-off proposal to
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