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Alibaba to sell Zomato shares worth $200 million via block deal: Report

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

Topics
Zomato | Alibaba

Reuters  |  BENGALURU 



Zomato, food delivery

Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm 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.

and did not immediately respond to Reuters requests for comment.

 

Chart

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 Uber Technologies sold its 7.8% stake in for $392 million via a block trade on local exchanges, Reuters reported in August, citing sources.

($1 = 81.6080 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Tue, November 29 2022. 19:00 IST

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