Alibaba in talks to partner Reliance Retail to take on Flipkart, Amazon

Alibaba in talks to partner Reliance Retail to take on Flipkart, Amazon

Jack Ma, Chairman of Alibaba Group, attends a show during Alibaba Group's 11.11 Singles' Day global shopping festival in Shanghai, China, November 10, 2017. REUTERS/Aly Song

China’s Alibaba Group Holding Ltd has initiated talks with Mukesh Ambani’s Reliance Retail Ltd to form a mega Indian retail joint venture (JV), with an investment of at least $5 billion to challenge the dominance of Flipkart and Amazon in the world’s fastest-growing economy, two people with direct knowledge of the matter said. Alibaba Group has proposed to acquire a large stake in Reliance Retail to create a behemoth in the digital marketplace and also expand Alibaba’s physical retail businesses in India, the people said, requesting anonymity.

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