Latest News | Alibaba, Antfin Sell Entire 43 Pc Stake in Paytm Mall for Rs 42 Crore
Get latest articles and stories on Latest News at LatestLY. Chinese company Alibaba and its affiliate Antfin has sold their entire stake in Paytm Mall for Rs 42 crore, according to a regulatory filing.
New Delhi, May 18 (PTI) Chinese company Alibaba and its affiliate Antfin has sold their entire stake in Paytm Mall for Rs 42 crore, according to a regulatory filing.
The exit transaction values Paytm Mall at around Rs 103 crore.
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According to the filing, Paytm E-commerce, parent firm of Paytm Mall, bought 28.34 per cent stake of Alibaba and 14.98 per cent stake held by Antfin (The Netherlands).
Paytm Mall has raised around USD 800 million from several investors, including Alibaba, Ant Financial and SoftBank.
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No immediate comment were received from Paytm Mall on this transaction.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)