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Ant Group sells Zomato shares worth $200 million via block deal - source (Nov. 29)

Reuters
Updated ·1-min read
FILE PHOTO: Illustration picture of Indian food delivery company Zomato

(This Nov. 29 story has been corrected to say Ant Group, not Alibaba sold stake; and to change the source by removing the reference to the CNBC-Awaaz reporter's tweet)

BENGALURU (Reuters) - Jack Ma's Ant Group has sold a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, a source with direct knowledge of the matter told Reuters.

The deal brings Ant Group's current stake in Zomato to 10%, the source said.

Ant Group and Zomato did not immediately respond to Reuters requests for comment.

The development comes months after Uber Technologies sold its 7.8% stake in Zomato for $392 million via a block trade on local exchanges, Reuters reported in August, citing sources.

($1 = 81.6080 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)