Alibaba & Foxconn in talks to put $500 mn in Snapdeal: Report

Chinese e-commerce giant Alibaba Group Holding and  iPhone assembler Foxconn Technology Group are in talks to jointly invest about $500 million in Snapdeal.com, according to a report by Wall Street Journal. Alibaba and Foxconn decided to take a combined 10 per cent stake in Snapdeal though the deal still needs regulatory approval in India, WSJ said citing a source.