Alibaba’s first Indian investment to fuel international competition with Amazon.
It is reportedly making the $575 million investment in India’s One97 Communications, an online payment and marketplace business, according to The Wall Street Journal.
Alibaba to Invest About $575 Million in Indian Online-Shopping Service, Paytm
www.wsj.com
Chinese e-commerce giant Alibaba Group Holding and its financial-services affiliate have agreed to jointly invest about $575 million in India’s One97 Communications’ online-payment and marketplace businesses, a person familiar with the matter said.
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