Alibaba buys 20% stake in Suning

Deal brings together brick-and-mortar retailer, online giant

Alibaba Group Holding Ltd said on Monday that it will spend 28.3 billion yuan ($4.56 billion) for a 20 percent stake in Suning Commerce Group Co Ltd, in a deal that allies the e-commerce giant with the leading electronics retailer.

Consequent to the deal, Alibaba will be Suning's second-largest shareholder with a 19.99 percent stake. As a further sign of the two firms integrating their online and store-based shopping businesses, Suning said it would invest 14 billion yuan to acquire a 1.1 percent stake in Alibaba.