Chinese e-commerce firm Alibaba receives CCI approval for purchasing stake

Q.  Chinese e-commerce major Alibaba has received CCI’s approval for purchasing a 4.14% stake in which Indian e-commerce company on 16th October 2015?
- Published on 19 Oct 15

a. Flipkart
b. Snapdeal
c. Jabong
d. Myntra

ANSWER: Snapdeal
 
Chinese e-commerce company Alibaba has received anti-trust regulator CCI’s approval for purchasing a 4.14% stake in Snapdeal’s holding company Jasper Infotech. CCI gives approval to keep tabs on unfair business practices for acquisitions beyond a certain level. In August 2015, it was announced that Alibaba along with Foxconn and others will invest USD 500 million in Snapdeal.

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