Alibaba to invest $4.6B in Chinese electronics chain

E-commerce giant Alibaba announced it's investing $4.6 billion into Suning, one of the largest electronics chains in China.

The investment gives Alibaba a nearly 20% stake in Suning, the company revealed in a statement Monday, making them the electronics chain's second-largest shareholder. Suning will invest up to $2.28 billion in Alibaba shares for a 1.1% stake.

Alibaba Group CEO Daniel Zhang says the partnership offers consumers a larger selection of online offerings with more immediate access through brick-and-mortar stores.

"We are seeing the integration of e-commerce with traditional commerce where consumers are able to enjoy a more engaged, omni-channel and seamless shopping experience," says Zhang in a statement.

Suning runs more than 1,600 stores in China. Shares of Alibaba are up 1.3% in morning trading.

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