Alibaba reportedly looking at buying a stake in Flipkart
Alibaba may be exploring the possibility of buying a stake in India’s online retailer Flipkart, according to local media reports. An article published on LiveMint said that the news had emanated from “three people familiar with the matter”, but there has been no confirmation or comment from either of the two companies.
According to the reports on LiveMint and other India-based news websites, the talks are at “a very initial stage” and the Chinese company is also considering the possibility of working with Snapdeal. Flipkart is currently valued at $15bn and Snapdeal at $6.5bn.