Deals
Alibaba Said to Plan $200 Million Stake in India Pay Service
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Alibaba Group Holding Ltd. is in talks to buy a minority stake in India’s One97 Communications Ltd., owner of an online payments processor, according to people familiar with the matter.
The Chinese e-commerce company plans to invest a maximum of $200 million in One97, the people said, declining to be identified because the talks are private. Alibaba’s financial arm, Zhejiang Ant Small & Micro Financial Services Group Co., is discussing a separate investment in One97, the people said.