Alibaba to sell Zomato shares worth $200 million

The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a 13.3% stake in Zomato, according to Refinitiv data
Representative Image
Representative Image

BENGALURU: 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, a media report said 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 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, the report said in a tweet.

The development comes months after Uber Technologies sold its 7.8% stake in Zomato for $392 million via a block trade on local exchanges, the media had reported in August, citing sources.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Related Stories

No stories found.
logo
DT next
www.dtnext.in