里昂：阿里撤回分拆菜鸟非完全令人意外

Core Viewpoint - Alibaba has withdrawn its IPO application for Cainiao due to strategic considerations and market conditions, which is not entirely unexpected [1] Group 1: Strategic Decisions - Alibaba plans to acquire shares of Cainiao from minority shareholders for $3.75 billion, indicating its belief in Cainiao's integral role in its e-commerce business [1] - The acquisition aims to establish a global logistics platform that can create deep synergies with Alibaba's international e-commerce operations [1] Group 2: Market Challenges and Commitments - Despite challenges in unlocking value in the capital markets, Alibaba remains committed to maximizing shareholder returns through stock buybacks and annual dividends [1]