Paytm Rubbishes Reports Of Ant Group Offloading 30% Stake
India, Dec. 2 -- Chinese fintech giant Ant Group is considering selling its 30% stake in Indian digital payment giant Paytm amid border tensions and a toughening policy check in place.
The Ant Group's possible exit from Paytm would mark another reversal for the Chinese company hot on the heels of the dramatic suspension of its $37 Bn stock listing last month, which would have been the world's largest.
Financial details of the possible transaction have not been firmed up and Ant, the Alibaba-backed payments-to-consumer credit behemoth, has not launched a formal sale process yet, four people told Reuters.
Both Ant and Paytm said that the information was incorrect. A Paytm spokesman said, "The information is absolutely false and misleadin...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.