 |
|
The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou, Zhejiang province early November 11, 2014. [Photo/Agencies] |
Chinese e-commerce giant Alibaba is reportedly interested in investing about $575 million in Delhi-based online-shopping site Paytm, Indian newspaper The Economist Times reported on Sunday.
According to the Economist Times, if Alibaba Group Holding Ltd and Singapore-based Temasek Holdings would invest in Paytm, they will gain a 25-30 percent stake in a mobile-Internet company One97 Communications Ltd, the parent firm of Paytm. The expected fund will supposedly be used for strengthening mobile operations and customer acquisition.
The potential deal would raise Paytm's value to $1.5-1.9 billion.
The investment would be Alibaba's first foray into India's rocketing e-commerce industry. According to the Wall Street Journal, companies such as Amazon.com Inc and SoftBank Corp are betting on an online shopping boom in the world's second-most-populous country.
Neither Alibaba nor Temasek has publicly commented on the investment.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
