Home / Companies / Deals Buzz: China’s Alibaba on road to deliver $100 million to XpressBees

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China’s Alibaba on road to deliver $100 million to XpressBees

China’s online commerce giant Alibaba Group Holdings is in advanced talks to pick up a significant minority stake in logistics company XpressBees by making an investment of up to $100 million, reports The Economic Times, citing three persons with knowledge of the matter. Read more

Britannia enters the chocolate factory, to compete with Nestle’s Kit Kat

Biscuit maker Britannia has started selling chocolate wafers, competing with brands such as Nestle Kit Kat. The company has extended its Pure Magic biscuit brand to chocolate wafers, in the format of slabs of chocolate on top of biscuits, reports The Economic Times. Read more

DoT to issue notices to five telcos to recover Rs2,578 crore

The Department of Telecom (DoT) will issue notice to five telecom operators, including Tata Teleservices, Telenor and Reliance Jio, to recover Rs2,578 crore, in the wake of the CAG red-flagging understatement of revenues by the firms, reports PTI. Read more

Uber is in investing mode in India: Amit Jain

For Uber Technologies, 2017 was nothing short of a roller-coaster ride. The most valued startup was accused of having a toxic and sexist work culture; it saw exits of founder-chief executive Travis Kalanick; it wrapped up operations in China and merged its Russian business with the taxi arm of search engine giant Yandex, reports Business Standard. Read more

IRPs spar over Videocon Industries mandate

The appointment of an insolvency resolution professional (IRP) for Videocon Industries has sparked a row among top audit companies, with Alvarez & Marsal winning the bid but some others complaining that their bids were far lower, reports Business Standard. Read more

SAIL plans to bid for stressed assets of Essar, Bhushan Steel

The country’s largest steelmaker SAIL is considering bidding for the stressed assets of Essar Steel and Bhushan Steel that are facing insolvency proceedings, reports Business Standard. Read more

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