China’s Alibaba Group Holding Ltd and its unit Alipay are in advanced talks to buy a stake for about $550 million (Rs 3,427.6 crore) in India’s One97 Communications, which owns an online payment platform. The investment by Alibaba, the world’s largest e-commerce company, is expected to be announced by the end of this month. It will be Alibaba’s first significant investment in India’s rapidly growing online business segment.
Alibaba to Buy $550-Million Stake in Indian Company
