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Ant Group Said to Sell 4% Stake in Indian Payment Firm Paytm for US$242M Cash
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Ant Group, under BABA-W (09988.HK), will sell a 4% stake in Indian payment company Paytm for USD242 million in cash, Reuters reported.

The shares will be sold at INR809.75 each, representing a 6.5% discount to Paytm’s closing price on May 12. Goldman Sachs (India) Securities and Citigroup Global Markets India are the lead underwriters.

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Over the past two years, Warren Buffett’s Berkshire Hathaway (BRK.A.US) and Japan’s SoftBank also sold their Paytm holdings. In August 2023, Ant Group sold a 10.3% stake in Paytm to Paytm's founder and CEO, Vijay Shekhar Sharma.
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