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Alibaba in talks to acquire 20% stake in Micromax - report

2015-05-08 12:29:00| Telecompaper Headlines

(Telecompaper) Alibaba is in talks with Indian smartphone maker Micromax Informatics to acquire a stake of approximately 20 percent in the company, Reuters reports, citing several unnamed people with direct knowledge of the matter. The deal would see Alibaba investing over USD 1.2 billion in Micromax, valuing the Indian company at up to USD 6 billion, two of the people said. Micromax and Alibaba started negotiations on the stake sale after discussions with investors led by Japanese company Softbank failed over differences in valuations, the sources said.

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