Tata Group in talks to acquire 80% stake in BigBasket

Mumbai based Tata Group is involved in advanced talks with online grocery giant BigBasket to acquire upto 80% stake in the company which accounts to $1.6 billion. It is likely to capture Alibaba’s entire stake, which is 25% – 30%. After JioMart is combating Amazon.com Inc and Walmart Inc and thriving to make its position in Indian e-commerce industry, Tata Group is seeking potential acquisitions to narrow the gap with its rivals.