Alibaba set to buy $700m stake in Indian phone maker Micromax
Chinese e-commerce giant Alibaba is set to sign an agreement with Indian phone maker Micromax to buy a quarter share of the company for about $700 million, India's Economic Times reported on June 25, citing people familiar with the deal. The deal, which may also see the participation of Japan's SoftBank, could value Micromax as high as $5 billion.
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Men walk past a billboard ad for Micromax mobile telephones in Mumbai, India, Aug 03, 2010.[Photo/IC] |
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