Alibaba seeks CCI approval for acquiring stake in BigBasket
Chinese internet business major Alibaba has looked for endorsement of the Competition Commission of India (CCI) for obtaining stake in online basic supply stage, BigBasket . "The proposed blend identifies with the obtaining and buy of offers of Supermarket Grocery Supplies (SGS - the substance that runs BigBasket) by Alibaba Singapore," according to a CCI take note. The notice, be that as it may, did not illuminate the points of interest of the proposed speculation, including the quantum of stake and the money related estimation of the arrangement. Messages sent to Alibaba and BigBasket on seekingCCI endorsement went unanswered, while Paytm declined to remark. Prior this year, there were reports refering to sources that Alibaba alongside Paytm Mall (which has Alibaba has a financial specialist) were in discourses with BigBasket to get a minority stake for about USD 200 million. Putting resources into BigBasket would enable Alibaba to include more muscl...