Deals Buzz: China’s Alibaba on road to deliver $100 million to XpressBees
1 min read . Updated: 01 Jan 2018, 10:30 AM IST
PremiumIn other news, SAIL is considering bidding for stressed assets of Essar Steel and Bhushan Steel that are facing insolvency proceedings
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
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
