Alibaba eyes Paytm
Source: Agencies |
July 1, 2015, Wednesday
|
Print Edition
Print Edition
ALIBABA Group is in advanced talks to invest in Indian online payment platform and e-commerce firm Paytm, two sources said yesterday.
Alibaba’s financial arm Ant Financial, which runs the Alipay online payment platform, is already an investor in Paytm’s parent, having agreed in February to buy a 25 percent stake.
One source said the new deal would see Alibaba directly invest around US$600 million for a share in Paytm that could take the Chinese group’s total holding to around 40 percent of the Indian payment firm.
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