Alibaba Packs Bags And Leaves Paytm, Shares Slump 9%

Alibaba Packs Luggage And Leaves Paytm, Stocks Stoop 9%

In a block deal, 3.4 consistent with cent fairness ( or 2.1 crore stocks) of Paytm’s mum or dad corporate One97 Communications Ltd (OCL) have modified arms on Friday, ANI reported



Revealed: February 10, 2023 2:49 PM IST


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Alibaba Packs Luggage And Leaves Paytm, Stocks Stoop 9%

New Delhi: Chinese language multinational conglomerate Alibaba, one of the most earliest backers of One97 Communications-owned Paytm, has reportedly bought its final 3.4 consistent with cent stake within the homegrown fintech corporate.

In a block deal, 3.4 consistent with cent fairness ( or 2.1 crore stocks) of Paytm’s mum or dad corporate One97 Communications Ltd (OCL) have modified arms on Friday, ANI reported. Assets within the know of the advance say that Chinese language multinational Alibaba has bought its whole stake in Paytm in nowadays’s block deal, the record added.

With this sale, Alibaba is not a stakeholder in Paytm. The corporate had bought round 3.1 consistent with cent of 6.26 consistent with cent fairness in Paytm in January. This newest deal virtually completes Alibaba’s go out from India because it had previous bought its stakes in Zomato and BigBasket.




Revealed Date: February 10, 2023 2:49 PM IST



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