Alibaba stake in Micromax for 1.2 billion dollars

Alibaba is a Chinese e-commerce company that provides services for C2C(customer to customer) and B2C(business to customer) around the world via it's famous website alibaba.com
Micromax is India's electronic company that supply electronics products to customer and india's second smartphone production company.Alibaba has been negotiating to holding 20 per cent stake in Micromax.so Alibaba invest $1.2 billion dollars to partnership with Micromax.
According to industrial research company '(IDC)International Data Corporation' India is the world's third largest smartphone market and according to study India will becomes first till 2019.so its nice for new company invest in smart phone and such type of electronic items.Micromax is leading company in India for selling smart phone and also now ready for lunch new electronics items like laptop and computer.so it's good for Micromax to got money for new production.Japanese company 'SoftBank Corporation' is largest shareholder in Alibaba and due to disagreements occurred between SoftBank and Alibaba it start discussion to Micromax