Alibaba is Not Acquiring Snapdeal
People walk past a company logo at the Alibaba Group headquarters in Hangzhou, in eastern China's Zhejiang province. (Photo: AP)
China's Alibaba Group Holding is not buying Indian e-commerce company Snapdeal and is not in talks to do so, a person familiar with the matter said, dampening talk that an acquisition was in the works.
This comes after Alibaba's talks over a potential buyout went cold with India's Flipkart.
Chinese e-commerce major Alibaba tried buying out Snapdeal to set up a new battlefront with global rival Amazon.
Recommended For You
- Nokia 6, 5, 3, and 3310 Launched at MWC 2017: All You Need to Know
- Priyanka Chopra Slays In This Oscars After Party Ensemble
- Sunny Pawar Is Winning Hollywood One Award Ceremony at a Time
- Nokia 3310 Is Back And The Internet Can't Handle It
- 'Indecision' Review System: India Get 17 Out of 55 Calls Right