Info Edge India said it will sell 6.7% stake in food delivery firm Zomato to Ant Financial, Alibaba Group Holding's payment affiliate, for $50 mn
Alibaba said it was disappointed by the decision but that the ruling did not determine that Alibaba had violated US securities law
As part of a strategic alliance with Auchan Retail S.A. and Ruentex Group, Alibaba would buy the stake from Ruentex while Auchan Retail was also increasing its stake in Sun Art
The Chinese government is seeking to rejuvenate state behemoths with private capital
Announcement comes as its rivals like JD.com Inc are expanding operations in Southeast Asia
Chinese e-commerce giant should be put back on list of sellers of fakes, some brands say
Currently, Jack Ma-founded e-commerce company has passive investment in companies such as Paytm and Snapdeal
The YunOS-enabled car named "OS'Car RX5" has been developed in collaboration with SAIC Motor Corporation