The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsMUMBAI, Nov 28 (Reuters) - Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato (ZOMT.NS) for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. In October, Japan's SoftBank (9984.T) sold a 1.1% stake in Zomato, which is India's biggest food delivery service. In August, China's Antfin sold a 10.3% stake in Indian financial giant Paytm (PAYT.NS).

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Persons: Florence Lo, Morgan Stanley, Alipay, Japan's SoftBank, China's Antfin, Sriram, Aditya Kalra, Susan Fenton Organizations: REUTERS, Rights, Ant Group, Reuters, Bank of America, Tech, Thomson Locations: Rights MUMBAI, Zomato