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Chinese e-commerce giant Alibaba Group Holding Ltd. and its financial-services affiliate plan to invest approximately $575 million in India's One97 Communications Ltd. The investment will target One97's online-payment and marketplace businesses. If finalized, this deal would grant Alibaba and Zhejiang Ant Small & Micro Financial Services Group a combined 30% stake in One97, valuing the Indian company at over $2 billion.
Friday, 9 January, 2015