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    HomeNewsBusinessAlibaba sells Paytm stake worth $125 million via block deal: report

    Alibaba sells Paytm stake worth $125 million via block deal: report

    Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said.

    Reuters
    January 12, 2023 / 17:22 IST
    Rank 10 | Alibaba | Country: China | Sector: Consumer Discretionary | Market cap: $577.36 billion (Image: Reuters)

    China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters.

    Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said.

    Paytm's stock fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 2:37 p.m. IST.

    Morgan Stanley advised Alibaba on the deal, the source said.

    Alibaba and Morgan Stanley did not immediately respond to Reuters' requests for comment.

    Reuters
    first published: Jan 12, 2023 05:22 pm

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