Ant Group

Ant Group is expected to offload its remaining 5.84% stake in Paytm worth $434 million, marking a potential exit from the fintech firm. The deal comes amid growing regulatory concerns

China's Ant Group to fully exit Paytm with ₹3,800 cr stake sale at ₹1,020 per share, following earlier exits by SoftBank and Berkshire Hathaway

Ant Group, a subsidiary of Alibaba Group, has been gradually reducing its stake in Paytm

Ant, a subsidiary of Alibaba Group, will sell its stake in Paytm at ₹809.75 per share, the report added

Ant Group leverages domestic semiconductors to develop AI models, reducing costs and challenging Nvidia's dominance amid US-China tech tensions

China's Ant Group's arm Antfin Singapore Holdings Pte is likely to sell up to 2 per cent stake (176.4 million shares) in Zomato

UBS is struggling to attract interest in the unit from global firms because of escalating geopolitical tensions, a crackdown on bank data flows and the struggling economy

Bailing will be applied to Ant's various services and help with innovation, Xu Peng, vice president of Ant Group said in a statement on Monday

The foray by Ant into financial AI is notable as the company founded by billionaire Jack Ma is China's biggest fintech firm, with more than 1 billion users worldwide for its Alipay payment app

A subsidiary of Chinese fintech giant Ant Group on Friday sold a 3.6 per cent stake in Paytm for Rs 2,037 crore through open market transactions. The shares of Paytm's parent One97 Communications was sold by Antfin (Netherlands) Holding BV. Motilal Oswal Mutual Fund (MF), Nippon India MF, ICICI Prudential Life Insurance, Citigroup Global Markets Mauritius, Goldman Sachs (Singapore) Pte, Bay Pond Partners LP, Royal Bank of Scotland, Societe Generale, Abu Dhabi Investment Authority and International Bank for Reconstruction and Development, among others, were the buyers of the shares of Paytm. Antfin offloaded a total of 2,27,54,823 shares in 14 tranches, amounting to a 3.58 per cent stake in One97 Communications, according to the block deal data available with the BSE. The shares were sold at an average price of Rs 895.2 apiece, taking the combined transaction value to Rs 2,037 crore. Post the transactions, Antfin shareholding has declined to 20.21 per cent from 23.79 per cent stake

Alibaba said in an exchange filing it won't take part in Ant's plan to buy back as much as 7.6% of its stock, which the latter's board has approved

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation's capital strength

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days

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The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks

Move is the latest in a string of top exits from the food aggregator; comes a week after Feigan stepped down from the board of Paytm parent One97 Communications

The company will give 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma's voting control of Ant, according to an announcement

The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp