News Snapshot:
Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, CNBC Awaaz reported on Tuesday, citing sources. The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a 13.3% stake in Zomato, according to Refinitiv data. Alibaba and Zomato did not immediately respond to Reuters requests for comment. The block deal on Wednesday will likely be at a 5% to 6% discount to Zomato’s Tuesday close of 63.55 rupees, a CNBC Awaaz reporter said in a tweet. The development comes months after...
