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Alibaba to Invest About $575 Million in Indian Online-Shopping Service, Paytm

Noida-headquartered mobile internet firm One97 Communications Ltd, which has been in talks with various suitors to raise fresh money, especially to boost its flagship m-com and virtual wallet property m, is raising Rs 3,700 crore ($585 million) from the world’s largest e-com firm Alibaba, the group’s separate payment unit Alipay besides an existing investor SAIF…