India: Infibeam to up stake in CC Avenue for $22.4m, to merge ops

India: Infibeam to up stake in CC Avenue for $22.4m, to merge ops

Infibeam Incorporation Ltd, the first listed Indian e-commerce company, plans to invest around $22.4 million more in CC Avenue to further acquire 7.5 per cent stake, and later merge the digital payments firm with itself.

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