Alibaba to take control of Ele.me

Move will help e-commerce giant to enhance its capabilities in 'last-mile' service

Alibaba Group Holding Ltd announced on Monday it will take full control of food delivery platform Ele.me, as the e-commerce conglomerate seeks to enhance "last-mile" delivery capabilities crucial to its New Retail commitment.

The internet giant, together with its affiliate Ant Financial Services Group, is spending $9.5 billion to take all outstanding shares it does not own from existing investors.