#MarketWire is a quick round up of notable business movements of the day. This segment features news from Alibaba, Softbank, Temasex Holdings, GIC and Amazon India
Softbank Offloads, Temasek Holdings & GIC Buys Alibaba Stock
A day after Japanese investor SoftBank announced its plan to sell $7.9 billion of Alibaba stock, Singapore-based state fund Temasek Holdings and wealth fund GIC bought $1 billion worth of shares in the Chinese eCommerce giant.
Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 per share. Read More
Amazon Seeks to Accelerate Momentum in India, Invests Additional Rs. 1,350 crore
Amazon has invested an additional Rs 1,350 crore (about $200 million) in its India unit this year, to accelerate the momentum gained in the past 18 months.
>The latest investment in the company Seller Services, disclosed in regulatory filings on May 31, takes the total capital infused into the main India unit since early 2015 to Rs 8,618 crore. The money came in March, a few weeks before India introduced discounting and vendor-related restrictions for online. Read More