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Alibaba Investing in Mobile Commerce Firm

Alibaba will acquire 25 per cent stake in One97 Communications, the parent of mobile commerce firm Paytm, as the Chinese eCommerce giant makes its debut in the rapidly expanding mCommerce space in India. Ant Financial Services, part of the Alibaba Group, today said in a statement it has entered in a strategic agreement to acquire “a 25 per cent stake in One97 to support the growth of mobile payment and commerce platform in India”.

Read the whole story at Financial Express »

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