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8 March 2017

Alibaba adds some $250m to its One97 investment

Reliance Capital, Sapphire Ventures and Saama Capital have reportedly exited One97 Communications, selling a combined 4.3% stake to e-commerce firm Alibaba.

Author: Robert Lavine, News Editor

E-commerce group Alibaba has bought shares in India-based e-commerce and mobile finance company One97 Communications worth about 4.3% through a secondary offering at a $5.7bn to $5.9bn valuation, Livemint reported today.