Business Business Stories Interviews Sales & Marketing Start-up Stories

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

CNBC Awaaz reported on Tuesday that Alibaba Group Holding Ltd planned to sell a 3% share in Indian food delivery startup Zomato Ltd for $200 million in a block deal.

According to Refinitiv statistics, the Chinese e-commerce behemoth now owns a 13.3% share in Zomato through its financial arm Ant Group.

Reuters queries for comment were not immediately responded to by Alibaba or Zomato.

According to a CNBC Awaaz reporter, the block deal on Wednesday will likely be at a 5% to 6% discount to Zomato’s Tuesday close of 63.55 rupees. The news comes just months after Uber Technologies sold its 7.8% ownership in Zomato for $392 million in a block deal on local exchanges, according to Reuters, citing sources.

English »