Tata Nears $1.3 Billion Deal to Buy 80% of Bigbasket

Positive for Trent and Tata Consumers
Expects positive for Tata Group stocks like Trent and Tata Consumers after the news that the Tata Group is in advanced talks to buy close to 80% of local online grocer BigBasket for about $1.3 billion (Mint newspaper reported).
Tata will also inject money into BigBasket by buying new shares, it said, adding the deal may be announced in the next few weeks. Tata Group Is Said to Chase E-Commerce Deals to Boost Retail.
It is really good to hear a chinese funded will no longer much be funded by chinese. The most trusted brand in India not only in India but recognized world wide is now going to take a major stake in Big Basket. As discussed earlier we do not encourage any chinese goods, we always try to minimize chinese products that we can.
A spokeswoman for Tata declined to comment, while BigBasket didn’t respond to requests for comment.
Like many other major conglomerates, Tata is also looking to strengthen its online retail presence in the country. Earlier reports had indicated that the Tata Group has been scouting for potential e-commerce assets that it can acquire as the battle for e-commerce dominance heats up in India.