Why Ant Financial is reducing its Paytm stake amid rising geopolitical tensions

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Alibaba’s fintech arm, Ant Financial, has likely sold a 4.1% stake in Paytm’s parent company, One97 Communications, through a block deal, according to market sources. This move aligns with Chinese companies’ ongoing efforts to reduce their exposure to Indian investments amid geopolitical tensions.

The news triggered a significant drop in Paytm’s stock, which plummeted 5% to hit a day’s low of Rs 823.10 on the BSE during early Tuesday trade.

Deal details

  • Stake sold: 1.7 crore shares
  • Value: Rs 2,200 crore
  • Remaining stake: Below 5% (down from…



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Why Ant Financial is reducing its Paytm stake amid rising geopolitical tensions


Alibaba’s fintech arm, Ant Financial, has likely sold a 4.1% stake in Paytm’s parent company, One97 Communications, through a block deal, according to market sources. This move aligns with Chinese companies’ ongoing efforts to reduce their exposure to Indian investments amid geopolitical tensions.

The news triggered a significant drop in Paytm’s stock, which plummeted 5% to hit a day’s low of Rs 823.10 on the BSE during early Tuesday trade.

Deal details

  • Stake sold: 1.7 crore shares
  • Value: Rs 2,200 crore
  • Remaining stake: Below 5% (down from…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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