Indonesian logistics company J&T Express announced Friday that it will acquire the Chinese operation of rival Best in a RMB 6.8 billion ($1 billion) cash deal. The transaction does not involve Best’s express services for bulky items in China and overseas delivery. The deal, still pending regulatory approval, is expected to close in the first half of 2022. Entered China in 2020, J&T expanded quickly in the country through heavy subsidy wars. [LatePost, in Chinese]