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Ant Group considering selling its 30% stake in Paytm amid tensions
- Thursday | 3rd December, 2020
HONG KONG/NEW DELHI (Reuters) – Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment processor Paytm amid tensions between the two Asian neighbours and a toughening competitive landscape, people with direct knowledge of the matter said. At that valuation, Ant’s stake in the Indian firm is worth about $4.8 billion. Both Ant and Paytm said that the information was incorrect. Sources told Reuters in October that Ant was cutting its financial support to many of the overseas affiliated e-wallet firms. Two other sources said that as a result of the review Ant could end up retaining a small stake in Paytm.
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