INSUBCONTINENT EXCLUSIVE:
Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal,
CNBC Awaaz reported on Tuesday, citing sources.
The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a
block deal on Wednesday will likely be at a 5% to 6% discount to Zomato's Tuesday close of 63.55 rupees, a CNBC Awaaz reporter said in a
tweet.
The development comes months after Uber Technologies sold its 7.8% stake in Zomato for $392 million via a block trade on local
exchanges, Reuters reported in August, citing sources.
($1 = 81.6080 Indian rupees)
(Reporting by Rama Venkat in Bengaluru)(Only the
headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a
