NEW DELHI/HONG KONG - China’s Alibaba Group has put on hold plans to invest in Indian companies, two sources aware of the plans told Reuters, amid souring business relations and rising political tension between the two nations after a clash on their Himalayan border.
However, there are no plans to reduce its stakes or exit investments, they added. The sources declined to be identified as the talks are private.The Chinese conglomerate and its affiliates Alibaba Capital Partners and Ant Group have invested more than $2 billion in Indian companies since 2015 and participated in funding rounds of at least another $1.8 billion, according to data from PitchBook, which tracks private market financing.
In its IPO filing, Ant said a change in foreign investment rules in India had led to a “further evaluation of the timing” of its additional investment in Zomato. Ant also said it counted Paytm owner One97 Communications, in which it has a 30% stake, as an associate or joint venture partner over which it has “significant influence”.
“Alibaba and a few others have put on hold their India investment plans for six months and they are hoping that things would cool off a bit after that,” said one of the sources.
aditishahsays sumeet_chat yeoo wtf ☠️ jack ma is a real G styll
aditishahsays sumeet_chat Keep chiba out of the world community for his bs bully attitude toward other countries. CH should be broken up in many diff countries like soviet once was.
aditishahsays sumeet_chat Good move by AlibabaGroup . Use and throw policy is common here. Be it suzukicycles in 1984, Honda Scooter, Kawasaki motor cycle, Copycats ruin them. Hyundai_Global suffered setback with Shreeram group. But their 🚘 business flourished because they are on their own.
aditishahsays sumeet_chat Indians and Chinese doing business 😂😂😂 is like cheap and cheaper trying to figure out who can get the cheapest deal 😂😂
aditishahsays sumeet_chat This’ll be interesting for Trump’s America. While America buys most of its pharmaceuticals from India, India sources 68% of its pharmaceutical ingredients from China... Trump wants you to think he’s saving money but he’s just laying the groundwork for yet another health crisis.
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Source: Reuters - 🏆 2. / 97 Read more »