Alibaba plans to buy at least 10% stake in Chinese courier Yunda: Report

Under Chinese regulations, a stake of over 5% in a domestically listed company can be sold at a discount of as much as 10% to the firm's share price on the last trading day prior to a deal

Alibaba Group Holding Ltd plans to buy at least 10% of Yunda Holding Co Ltd, marking the e-commerce giant's fifth investment in a large courier, two people with knowledge of the matter told Reuters.

Alibaba is looking to buy the stake from Yunda's controlling shareholders - founding couple Nie Tengyun and Chen Liying - who own 52.19% of Yunda through their wholly owned firm Shanghai LuoJieSi Investment Management, said one of the people. At the current market price, the stake would be worth at least $790 million.

The other person said China's dominant e-commerce firm could go beyond 10% and buy up