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Alibaba is Not Acquiring Snapdeal

News18.com

First published: December 2, 2016, 8:44 AM IST | Updated: 3 days ago
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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.

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