Business Standard

Jack Ma-backed Ant Group plans to pare stake in Vijay Shekhar's Paytm

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

Paytm
Premium

Photo: Bloomberg

Lulu Yilun Chen, Baiju Kalesh and Saritha Rai | Bloomberg
Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required threshold, according to people familiar with the matter. 
 
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, the people said, requesting not to be identified because the matter is private.

Talks are preliminary and details could change depending on regulatory and pricing concerns, the people added. Ant didn’t immediately respond to emailed requests for comment. Paytm declined

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 25 2023 | 9:57 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com