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, March 12 (Reuters) – Indian conglomerate TataSons plans to buy a majority stake in Alibaba-backed grocery retailer BigBasket, which was filed with the anticountry body on Friday.
If the deal is approved, Tata – a more than 150-year-old conglomerate with interests in everything from luxury carstow software – to Amazon, Walmart’s direct competition with Flipkart and an upstart grocery service from Reliance Industries, billionaire Mukeshambani Is supported for.
In a filing with the Competition Commission of India, TataDigital Limited, which is a wholly owned entity of Tata Sons, it is proposed to purchase 64.3% of the entity that is running business sales for the business.
Media agencies have reported that the group aims to take control of more than 60% of BigBasket, buying the stake of Chinese-commerce giant Alibaba.
The offer comes in the form of e-commerce sales, particularly as Foodland groceries, the COVID-19 epidemic in India has exploded as a shift to online shopping.
BigBasket rivals expect you to spend heavily on the grocery business.
Flipkart has announced plans to expand to more Indian companies, while Reliance’s digital arm – which is likely to support its grocery service – has raised more than $ 20 billion from investors, including Facebook and Alphabet’s Google. (Reporting by Sachin Ravikumar in Bengaluru; Editing by Majumsuel and Sriraj) Kalluvila)
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