Alibaba could potentially sell $550m of shares in the deal, which has been given approval by regulators and which will give Tata a 64% stake in return for $1.2bn.

Diversified conglomerate Tata Group has secured regulatory approval to acquire a majority stake in India-based online grocer BigBasket, with e-commerce group Alibaba set to exit, according to the Economic Times. The deal was agreed in February this year and is set to be conducted by the corporateā€™s Tata Digital subsidiary, which will pay a reported…

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