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SoftBank to sell up to $215 mn stake in Paytm, says term sheet
SoftBank Group Corp aims to sell shares worth up to $215 million in Indian e-payments giant Paytm's parent One 97 Communications Ltd through a block deal, according to a term sheet reviewed by Reuters. SoftBank and Paytm did not respond to requests for comment. The news comes a day after the lock-in period for investors in Paytm's November 2021 initial public offering closed. Shares of the company settled 4% lower on Wednesday at 601.30 rupees, after touching a five-month low. Source: BusinessToday #SoftBank #Paytm
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