Paytm Stake Sale: A big Chinese firm is preparing to sell some of its stake in Paytm. It has been claimed in a report that apart from selling some stake, this firm will still hold the rest of the shares. However, after increasing its stake in Paytm, this Chinese giant is now discussing reducing its stake in One 97 Communication Limited.
According to the Bloomberg report, the decision to reduce the Ant Group stake may be changed or amended depending on the regulatory and share prices. Paytm has refused to provide any information on this, while Ant Group also did not immediately respond to the mail.
Because of this Ant Group is selling stake
Ant Group’s stake sale in Paytm is being discussed at a time when Alibaba Group Holding Limited has sold stake in Paytm. The report suggests that Ant Group wants to sell its stake not for political, but for technical reasons. Ant Group held 24.86 per cent stake in One 97 Communication in December, but later bought more shares to hold more than 25 per cent stake in Paytm. It has been said in the report that Ant Group has 90 days to reduce the stake. Let us tell you that during December a buyback of Rs 8.5 billion was announced.
Sunil Mittal wants to increase stake in Paytm
Where on one hand Ant Group is considering reducing its stake. On the other hand, Indian telecommunication tycoon Sunil Mittal is thinking of taking a stake in Paytm. Mittal wants to merge Airtel Payments Bank with Paytm Payments Bank during a stock deal. Apart from this, Mittal wants to buy Paytm shares from other holders.
Invest in 10 Fintech Companies
Ant Group has invested in 10 fintech companies outside China with the aim of building a network of payment services across Asia. Ant Group is awaiting approval to apply for a financial holding company license.
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