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Ant Group Said to Sell 4% Stake in Indian Payment Firm Paytm for US$242M Cash
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Ant Group, under BABA-W (09988.HK), will sell a 4% stake in Indian payment company Paytm for USD242 million in cash, Reuters reported. The shares will be sold at INR809.75 each, representing a 6.5% discount to Paytm’s closing price on May 12. Goldman Sachs (India) Securities and Citigroup Global Markets India are the lead underwriters. Over the past two years, Warren Buffett’s Berkshire Hathaway (BRK.A.US) and Japan’s SoftBank also sold their Paytm holdings. In August 2023, Ant Group sold a 10.3% stake in Paytm to Paytm's founder and CEO, Vijay Shekhar Sharma. AAStocks Financial News |
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