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Paytm in talks with SoftBank to raise $1.2-$1.5 billion - report

Reuters 

- Electronics payments provider is in talks with Japan's to raise $1.2-$1.5 billion in cash, making the latter one of the largest shareholders in the fintech start-up, Mint newspaper reported on Wednesday citing sources.

The deal, which could increase Paytm's valuation to $7 billion to $9 billion, will see buying some shares from existing investor SAIF Partners and founder Vijay Shekhar Sharma beside investing money in the company, the report said. (http://bit.ly/2oK3j27)

Local media had reported recently that is keen to sell its stake in India's e-commerce firm Snapdeal in exchange for a stake in market leader Flipkart.

may also buy Snapdeal-owned payments rival Freecharge, as part of the deal, the report said.

Digital payments have assumed great significance in India after the decision of Prime Minister Narendra Modi's government ban on old high-valued bank notes in November led to a severe crunch across the country.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Euan Rocha)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Paytm in talks with SoftBank to raise $1.2-$1.5 billion - report

REUTERS - Electronics payments provider Paytm is in talks with Japan's SoftBank Group to raise $1.2-$1.5 billion in cash, making the latter one of the largest shareholders in the fintech start-up, Mint newspaper reported on Wednesday citing sources.

- Electronics payments provider is in talks with Japan's to raise $1.2-$1.5 billion in cash, making the latter one of the largest shareholders in the fintech start-up, Mint newspaper reported on Wednesday citing sources.

The deal, which could increase Paytm's valuation to $7 billion to $9 billion, will see buying some shares from existing investor SAIF Partners and founder Vijay Shekhar Sharma beside investing money in the company, the report said. (http://bit.ly/2oK3j27)

Local media had reported recently that is keen to sell its stake in India's e-commerce firm Snapdeal in exchange for a stake in market leader Flipkart.

may also buy Snapdeal-owned payments rival Freecharge, as part of the deal, the report said.

Digital payments have assumed great significance in India after the decision of Prime Minister Narendra Modi's government ban on old high-valued bank notes in November led to a severe crunch across the country.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Euan Rocha)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
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Paytm in talks with SoftBank to raise $1.2-$1.5 billion - report

- Electronics payments provider is in talks with Japan's to raise $1.2-$1.5 billion in cash, making the latter one of the largest shareholders in the fintech start-up, Mint newspaper reported on Wednesday citing sources.

The deal, which could increase Paytm's valuation to $7 billion to $9 billion, will see buying some shares from existing investor SAIF Partners and founder Vijay Shekhar Sharma beside investing money in the company, the report said. (http://bit.ly/2oK3j27)

Local media had reported recently that is keen to sell its stake in India's e-commerce firm Snapdeal in exchange for a stake in market leader Flipkart.

may also buy Snapdeal-owned payments rival Freecharge, as part of the deal, the report said.

Digital payments have assumed great significance in India after the decision of Prime Minister Narendra Modi's government ban on old high-valued bank notes in November led to a severe crunch across the country.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Euan Rocha)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22