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    Sonal Shridhar Shinde in News

    27-Feb-2023 08:43 AM


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    Ant Group, SoftBank Discuss To Sell Paytm Stake Through Block Deal: Report

    Alibaba Group earlier this month sold its remaining stake in Paytm for about 13.78 billion rupees.
    Shareholders and investment banks representing the Ant Group and Softbank had earlier approached Bharti Airtel founder-chairman Sunil Mittal with an offer to buy their stakes, according to the report, citing people familiar with the matter.
    The talks didn't make much headway and Bharti is not currently engaged in conversations on this issue, it added.
    Ant and SoftBank are likely to offload shares gradually in the market as part of their plan to exit Paytm, the report said.
    China's Alibaba Group earlier this month sold its remaining stake in Paytm for about 13.78 billion rupees.
    It was not immediately clear why Alibaba sold the stake.
    Source: NDTV