Paytm Mumbai/IBNS: China’s Alibaba Group has divested its entire stake in digital payments platform Paytm, news agency ANI reported.
On Friday, Alibaba offloaded its remaining 3.4 percent stake, equivalent to 2.1 crore shares in One97 Communications, Paytm's parent company.
Alibaba held a 6.26 percent stake in the fintech firm at the end of December 2022, and sold nearly 3 percent of it in January 2023.
In November, Alibaba had also divested a 3 percent stake in food aggregator Zomato.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
