Alibaba in talks with Snapdeal to enter India: Report

Alibaba, the Chinese e-commerce giant, is in talks with online retailer Snapdeal to enter India.

According to a report by the Economic Times, Alibaba has discussed with Snapdeal a possible investment in the Indian company, but a decision has not been reached yet.

Snapdeal, in which Tata Sons Chairman Emeritus Ratan Tata holds a stake, is also attracting attention from Japan's largest e-commerce company Rakuten Inc and telecommunications firm SoftBank Corp, the report added, citing investment banking sources.

Snapdeal spokeswoman said the company does not comment on speculation while Alibaba was not available for immediate comment when reached by Reuters.

Alibaba's shares are set to debut on the US market on Friday in what could be the world's largest ever initial public offering. It increased the price range on its offering to $66 to $68 on Monday, reflecting strong demand from investors for the year's most anticipated debut.

(Reuters)